BEIJING, Dec. 15 (Xinhua) -- China is willing to step up cooperation with Russia to improve global governance and advance the global development cause, Chinese President Xi Jinping said on Wednesday.

Xi made the remarks during a virtual meeting with his Russian counterpart Vladimir Putin.

Referring to the Global Development Initiative he proposed at the 76th session of the United Nations (UN) General Assembly, Xi said it is a public good focusing on addressing market challenges faced by the world, especially emerging markets and developing countries.

The initiative also aims to boost the implementation of the UN 2030 Agenda for Sustainable Development, Xi added.