BEIJING, June 24 (Xinhua) -- Chinese President Xi Jinping hosted the High-level Dialogue on Global Development on Friday in virtual format, calling for joint efforts to promote global development and foster a development paradigm featuring benefits for all, balance, coordination, inclusiveness, win-win cooperation and common prosperity.

Noting development is a timeless theme for humanity, Xi said only through continuous development can the people's dream for a better life and social stability be realized.

Xi pointed out that the COVID-19 pandemic is eroding decades of gains in global development, the implementation of the UN's 2030 Agenda for Sustainable Development is encountering difficulties, the North-South gap keeps widening, and crises are emerging in food and energy security.

"This is an age rife with challenges, but it is also an age full of hope," said Xi.

Xi urged joint efforts to build international consensus on promoting development, adding it is important that we put development front and center on the international agenda, deliver on the 2030 Agenda for Sustainable Development, and build political consensus to ensure everyone values development and all countries pursue cooperation together.

Xi went on to call for joint efforts to create an enabling international environment for development, adding it is important that we pursue development in real earnest and promote development in concert, build an open world economy, and shape a global governance system and institutional environment that are more just and equitable.

Xi also said all countries need to jointly foster new drivers for global development, adding it is important that we promote scientific, technological and institutional innovation, speed up technology transfer and knowledge sharing, boost the development of modern industries, close the digital divide and accelerate low-carbon transition, with a view to achieving stronger, greener and healthier global development.

Xi said all sides need to jointly forge a global development partnership, adding developed countries need to fulfill obligations, developing countries need to deepen cooperation, and the North and the South need to work in the same direction to forge a united, equal, balanced and inclusive global development partnership.

Noting China has always been a member of the big family of developing countries, Xi said China will take pragmatic steps to give continued support to the 2030 Agenda for Sustainable Development.

He said China will upgrade the South-South Cooperation Assistance Fund to a Global Development and South-South Cooperation Fund, add 1 billion U.S. dollars to the fund on top of the 3 billion dollars already committed, and increase input to the UN Peace and Development Trust Fund.

China will work with all sides to advance cooperation in priority areas and mobilize resources for development to deepen global cooperation on poverty reduction and eradication, build capacity for food production and supply, and promote clean energy partnerships, he added.

Xi also said China will set up a platform for experience and knowledge sharing on international development, a global development promotion center and a global knowledge network for development, for the purpose of exchanging governance experience and promoting mutual learning.

"We will host a global forum on youth development and take part in the launch of a global action plan on youth development, in a bid to pool as much strength as possible for the implementation of the 2030 Agenda for Sustainable Development," added Xi.