Chinese President Xi Jinping has pledged to establish a $2bn (£1.3bn) fund to assist developing countries and to significantly increase investment.
, Mr Xi said investment would reach $12bn over the next 15 years.
He also said China would cancel debts to the world’s least developed nations, including small island nations. The plan aims to eradicate poverty and hunger by 2030.
This new initiative also suggests China is willing to take on more of the responsibilities that go with its status as emerging superpower.