China plans to set up an international development cooperation agency, according to a parliament document released Tuesday, to better coordinate its foreign aid program.
The new agency will be responsible for forming policies on foreign aid, as well as granting aid and overseeing its implementation, according to the document.
"The move is to give full play to foreign aid as a key means of major-country diplomacy, enhance strategic planning and coordination of foreign aid, and better serve the country's overall diplomatic layout and the Belt and Road Initiative," the official Xinhua News Agency said.