Chinese President Xi Jinping speaks at the United Nations Sustainable Development Summit during the United Nations General Assembly in New York on September 26, 2015. [Photo/Xinhua]

President Xi Jinping's speech at the United Nations Sustainable Development Summit at the UN Headquarters on Saturday embodies China's latest contribution to South-South cooperation and global development.

Xi announced that China would set up a fund, with an initial contribution of $2 billion, to support South-South cooperation and help developing countries implement their post-2015 development agenda.

China will also try to raise its investment in the least developed countries to $12 billion by 2030 and exempt some of those countries - as well as some landlocked and small island nations - from repaying the outstanding intergovernmental interest-free loans due by the end of 2015.

The warm applause Xi won from the audience speaks volumes of the international community's recognition and appreciation of China's efforts to build a sustainable world.

According to incomplete data, about 86 developing countries have benefited from China's development aid, which started in the 1950s. Deepening cooperation between China and these developing countries has not only added to the speed of economic development in these countries, but also improved their capabilities to meet the Millennium Development Goals.

China has been cultivating win-win partnerships under the framework of South-South cooperation and has provided solutions tailored to meet respective countries' needs without any political strings attached. That's why China is able to combine its own interests with those of others and produce results that go beyond assistance.

As the world mulls the post-2015 development agenda, China's perception of equitable and common development will help fight inequality and injustice to usher in a better world for all.