Chinese President Xi Jinping is offering more than $1 billion to help with global peacekeeping efforts.

Speaking to the United Nations General Assembly Monday, the leader of the world’s second largest economy pledged $1 billion over the next decade to support the United Nation’s efforts to further international cooperation and global peace and development.

“The growing gap between rich and poor is both unsustainable and unfair,” Xi said. “No civilization is superior to another.”

Xi said China would also set up a permanent peacekeeping standby force of 8,000 troops to be deployed whenever necessary. China is already the biggest contributor of peacekeeping troops among the five permanent members of the U.N. Security Council, having sent more than 30,000 on 29 separate missions.

“China will never pursue hegemony but will strive for a win-win strategy in international development,” Xi said.

President Xi addresses U.N. General Assembly, pledges $1B in aid

President Xi addresses U.N. General Assembly, pledges $1B in aid

Chinese President Xi Jinping announced that China is to set aside $1 billion for a peace and development fund with the United Nations.
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Xi said China would also provide $100 million in military assistance to the African Union over the next five years to support the establishment of an African standby peacekeeping force and to bolster the A.U.’s ability to respond to crises.

“China will continue to stand together with other developing countries. We firmly support greater representation of developing countries, especially African countries in the international governance system,” Xi said.

At the U.N. on Sunday, Xi said China would contribute an initial $2 billion to establish an assistance fund for meeting post-2015 goals in areas such as education, health care and economic development. He said China would seek to increase the fund to $12 billion by 2030.

Xi also announced a $10 million donation to the U.N. agency promoting women’s rights to implement the 1995 blueprint adopted by world leaders to achieve gender equality — which remains a new U.N. goal for 2030.

Story compiled with information from CCTV America and AP reports.