China to commit 1.5b yuan to initiate Kunming Biodiversity Fund: Xi

BEIJING -- President Xi Jinping on Tuesday said China will take the lead by investing 1.5 billion yuan (about $233 million) to establish the Kunming Biodiversity Fund.

Xi made the remarks while addressing the leaders' summit of the 15th meeting of the Conference of the Parties to the Convention on Biological Diversity via video link in Beijing.

The fund will be used to support developing countries in biodiversity protection, Xi said.

China calls on and welcomes all parties to make contributions to the fund, he said.