Ma Zhaoxu (C, Front), China's permanent representative to the United Nations, speaks at an open debate of the UN Security Council with the theme "Threats to International Peace and Security Caused by Terrorist Acts: Preventing and Combating the Financing of Terrorism" at the UN headquarters in New York, on March 28, 2019. Ma Zhaoxu on Thursday urged the international community to advance practical cooperation and strengthen capacity building among member states when combating the financing of terrorism. (Xinhua/Li Muzi)

UNITED NATIONS, March 28 (Xinhua) -- A Chinese UN envoy on Thursday urged the international community to advance practical cooperation and strengthen capacity building among member states when combating the financing of terrorism.

The fight against terrorism financing involves complicated issues of technical nature. "The broad developing countries are faced with the daunting challenges of lack of capacity in financial regulation and lack of resources," Ma Zhaoxu, China's permanent representative to the United Nations, said at an open debate of the Security Council.

The open debate was convened by France, the president of the Security Council in March, with the theme "Threats to International Peace and Security Caused by Terrorist Acts: Preventing and Combating the Financing of Terrorism."

In order to avoid the short plank of any country resulting in an influx of external risks, and to deny any "safe haven" for terrorism financing, the international community should vigorously strengthen the technical assistance to member states and augment capacity building, in joint efforts to respond to the threat of the financing of terrorism, Ma said.

"Terrorism is the common enemy of mankind. The future of all countries is a shared one, and no country can stay immune from the scourge of terrorism," said the Chinese envoy.

Preventing and combating the financing of terrorism is an important part of responding to the threat of terrorism and conducting an international counter-terrorism cooperation, Ma said.

In order to completely eliminate terrorism financing in the international financial system, Ma said that the awareness of a community with a shared future for mankind has to be enhanced, while relevant UN resolutions must be effectively implemented.

In addition, multiple measures and integrated policies are needed to address the symptoms and the root causes of terrorism financing, said the Chinese ambassador, adding that eliminating financing for terrorism requests coordination and cooperation in many areas ranging from political and financial sectors to intelligence, science and technology.

Furthermore, efforts should be made to assist member states in poverty reduction and alleviation, realization of sustainable development, and encouraging dialogue on an equal footing and harmony among different civilizations and religions, Ma added.

The Chinese envoy also highlighted the importance of unifying standards to resolutely combat all forms of terrorism and its financing.

He said that the international community should build consensus and effectively respond to all sources, ways and channels of the financing of terrorism, while special attention should be given to regulating the internet so as to cut off platforms used by terrorist organizations for their proliferation and cyber financing.

Ma also said that China will further explore and establish a regulatory mechanism in countering the financing of terrorism based on financial intelligence, funding monitoring and shared data.

"China attaches great importance to preventing and combating the financing of terrorism, with enhanced regulatory mechanisms in combating money laundering, financing for terrorism, and tax evasion," he said.

Ma said that China will actively participate in international cooperation, provide capacity building assistance for developing countries within its capabilities, and work together with all other countries in jointly eliminating the financing of terrorism, combating terrorism, and maintaining world peace and tranquility.