China is ready to increase its financial contribution to the United Nations to match its explosive economic growth but wants a fair deal, Foreign Minister Li Zhaoxing told the UN General Assembly on Friday. Amid a debate over reform of the United Nations and its financing, pressure has been mounting on China to make concessions over its contribution which is currently about two percent of the total UN two-year budget of about 3.8 billion dollars for 2006 and 2007.
"As China economy grows, we are prepared to increase our contributions to the UN budget in accordance with the principle of the ability to pay," Li said as he gave China's presentation to the General Assembly.
"We are ready to take part in relevant discussions in a constructive way and hope that a fair and equitable formula will be reached on the basis of extensive consultation," the minister added.
Among the five permanent members of the UN Security Council, which have veto powers, the United States is the biggest contributor to the UN, paying about 417 million dollars, or 22 percent of the budget.
Britain and France each contribute about six percent, China two percent (39 million dollars) and Russia 1.1 percent.
Japan, which will pay about 370 million dollars (19 percent) to the current two-year budget, cites its financial support to back its bid for a permanent seat on the council. Germany, Italy, Canada and Spain also pay more than China and Russia into UN coffers.
Li said China would give three million dollars to the UN Peacebuilding Fund and that the United Nations faces "major challenges" and must change.
"The United Nations needs to take firm steps in carrying out reform," he said, without making any specific proposals.
