Chinese President Xi Jinping urged members of the Shanghai Cooperation Organization (SCO) to take advantage of their “vast market” during a two-day summit held in Tianjin, northern China. He also revealed his ambition for a new global security and economic system that poses a challenge to the United States.
In his opening remarks before more than 20 world leaders, Xi stated that the SCO has established a model for a new type of international relations.
He emphasized the need to advocate for a multipolar, organized world as well as comprehensive economic globalization, while also promoting the creation of a fairer and more equitable global governance system.
In addition, Xi announced that China would provide 2 billion yuan (approximately $280 million) in aid to member states this year, along with another 10 billion yuan in loans to a consortium of banks affiliated with the SCO.
Xi stressed the importance of leveraging the large market to enhance trade and investment facilitation, and he encouraged the organization to strengthen cooperation in areas such as energy, infrastructure, science and technology, and artificial intelligence.
The opening ceremony was attended by various leaders, including Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, alongside others from Central Asia, the Middle East, South Asia, and Southeast Asia, demonstrating strong solidarity among developing nations.
Xi also called on the organization’s partners to “oppose a Cold War mentality and confrontation between blocs,” and to support multilateral trade systems, making a clear reference to the tariff wars initiated by U.S. President Donald Trump, which have disproportionately affected developing economies such as India.
United Nations Secretary-General António Guterres stated on Sunday that China plays a “critical” role in supporting global multilateralism.
Analysts suggest that this year’s largest summit will serve as a platform for China to showcase an alternative vision for global governance, countering the U.S.-led international order amid ongoing policy instability, the withdrawal of Washington from multilateral organizations, and geopolitical fluctuations.