The developing countries with more than 80% of the world's population have vast area, rich national resources, a multitude of products, great market potentials and modes of development with respective features. Therefore, they can in many fields offer mutual benefit and reciprocity, support each other, draw on each other's experiences and achieve common progress. The growth of the over-all economic strength of the developing countries in recent years has offered favorable chances and opportunities for developing cooperation among them. The South-South cooperation has vast prospects and tremendous potentials, and is an important and indispensable component part of bilateral and multilateral international cooperation. However, because of the differences in national conditions and levels of economic development, the developing countries are generally faced with such problems as poor economic foundation to start with and inadequate funds for development, causing some actual difficulties in the further expansion of the South-South cooperation. We hold that the developing countries should, proceeding from a strategic high plane, explore in an active and deep-going way the diverse modes of the South-South cooperation, safeguard the common interests to the maximum and join hands to deal with the challenge of the economic globalization.

Since its founding in 1949, especially since the inception of the reform and opening-up 20 years ago, China has made rapid progress in the economy and its overall national strength has been greatly enhanced. But because the starting point for the economic development in China is low, it has a large population, the development of the eastern part and western part is not even and several ten millions of people are still living under the poverty line, China's overall level of development is still not high. As a member of the developing countries, China is ready, on the basis of the principles of equality and mutual benefit, stress on practical results, diversity in form and achievement of common progress, to develop extensive and profound cooperation with other countries of the South in the economic, technological, educational and cultural fields. To some developing countries that meet with difficulties, China is ready to provide assistance within its power. China's assistance is limited, but it will be provided sincerely without attaching any conditions.