TIANJIN – Chinese President Xi Jinping has rolled out his ambition for developing a new global security and economic order to promote peace and equitable global governance system.
He unveiled it in his opening remarks at the 25th Meeting of the Council of Heads of State of the SCO in north China’s Tianjin Municipality while urging them to leverage their “mega-scale market”. More than 20 leaders including Pakistani Prime Minister Shehbaz Sharif were present on the occasion.
“We should advocate for equal and orderly multipolarisation of the world, inclusive economic globalisation and promote the construction of a more just and equitable global governance system,” Xi said.
He said China will provide 2 billion yuan ($280 million) of free aid to member states this year. He also proposed establishing a SCO bank, saying China will provided 10 billion yuan of loans to a SCO banking consortium.
“We must take advantage of the mega-scale market… to improve the level of trade and investment facilitation,” the Chinese president said while putting emphasis on enhancing cooperation in fields including energy, infrastructure, and artificial intelligence.
The SCO, which started as a group of six Eurasian nations, has expanded to 10 permanent members and 16 dialogue and observer countries in recent years.
The Chinese President also called on SCO partners to “oppose Cold War mentality and bloc confrontation” and to support multilateral trade systems.
The member states of the Shanghai Cooperation Organization (SCO) have brought about groundbreaking and historic achievements in the organization’s development and cooperation, said Chinese President Xi Jinping.
“We were the first to set up a military confidence-building mechanism in our border areas, turning our extensive borders into a bond of friendship, mutual trust and cooperation,” Xi said, as he listed a series of “firsts” accomplished by the SCO member states.
They were the first to take multilateral actions against the three forces of terrorism, separatism and extremism, and were the first to launch Belt and Road cooperation, Xi said.
“We were the first to conclude a treaty on long-term good-neighborliness, friendship and cooperation, proclaiming our commitment to forge lasting friendship and refrain from hostilities,” he continued.
SCO bears greater responsibilities for peace, development
A day earlier, Chinese President Xi Jinping said the Shanghai Cooperation Organization (SCO) is shouldering greater responsibilities for safeguarding regional peace and stability, and for boosting development of various countries in a world of increasing uncertainties and accelerated changes.
Xi made the remarks at a banquet to welcome international guests who are in China’s port city of Tianjin to attend the SCO Summit 2025 from Sunday to Monday.
Xi expressed confidence that with concerted efforts of all parties, the summit will be a complete success, and that the SCO is certain to play an even bigger role and achieve more progress, making greater contribution to boosting the unity and cooperation among member states, pooling the strength of the Global South and pushing for more progress of human civilization.
