1 Sep 2025
Xi Jinping urges members’ cooperation and setting up a development bank as Vladimir Putin blames Nato for Ukraine crisis
Chinese President Xi Jinping called on members of the Shanghai Cooperation Organisation (SCO) to uphold international fairness and justice while pursuing mutually beneficial economic and cultural cooperation.
Xi made the remarks at the official meeting of the SCO leaders during their annual summit in China’s northern city of Tianjin on Monday.
Alongside a keynote speech by Xi, leaders from Belarus, India, Iran, Kazakhstan, Pakistan, Kyrgyzstan, Tajikistan, Uzbekistan and Russia gave speeches.
Below are some of the key takeaways from Monday’s summit.
1. Upholding fairness and justice
Xi urged the states to uphold fairness and justice, engage in multilateralism and advocate for inclusive economic globalisation and an equitable global governance system.
He said that the member states should oppose a cold war mentality, hegemonism, bloc confrontation and bullying as well as promote a correct view of World War II history.
The states must uphold the international system with the United Nations at its core and support the multilateral trade system with the World Trade Organization at its core, Xi said.
Belarusian President Alexander Lukashenko in his speech said now was a difficult time in which a new international order is being formed, moving from a unipolar model to a “fair multipolar system”, according to the Belarusian Telegraph Agency (BelTA).
2. Financial cooperation
Xi said an SCO development bank should be set up “as soon as possible” to provide stronger support for the economic cooperation and security of the member states.
China plans to implement over 100 “small and beautiful” projects, providing 2 billion yuan (US$280 million) in grant aid to SCO member states this year, he said.
Xi said China would extend an additional 10 billion yuan (US$1.4 billion) in loans to members of the SCO Interbank Consortium, an alliance of major banks, over the next three years.
Lukashenko said there was a need for an independent financial mechanism of the SCO that could finance cross-border projects, stimulate the use of national currencies for trade and mitigate the pressure of sanctions.
3. Mutually beneficial cooperation
Xi urged the member states to seek common ground while respecting their differences, describing all SCO member states as friends and partners.
Xi proposed that member states boost cooperation in a wide range of areas, including energy, infrastructure, green industries, digital economy, scientific and technological innovation and artificial intelligence.
He urged the states to uphold mutual benefit and win-win outcomes by jointly building the Belt and Road Initiative and leveraging the advantages of the SCO’s vast scale and complementary economies.
06:20
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4. Cultural and educational exchanges
Xi said people of all countries have always shared their knowledge and learned from one another’s strengths and that the SCO members should get to know each other better to coexist harmoniously.
Over the next five years, China would establish 10 Luban Workshops in SCO member countries, offering 10,000 training positions for human resources development, he added.
Starting next year, China would double the number of SCO special scholarships, implement an innovative doctoral training program, and jointly cultivate outstanding academic and scientific talent, Xi said.
5. Ukraine crisis
Putin said the crisis in Ukraine arose as a result of a Western-instigated coup in the country and that attempts to draw Ukraine into Nato were among the main causes of the conflict.
The Russian leader said the causes of the conflict must be eliminated and a security balance restored to bring about a long-term and sustainable resolution.
Russia values the efforts and proposals from China, India and other strategic partners aimed at easing the settlement of the crisis, Putin added.
6. Role of the SCO
Xi said the SCO had become a “proactive force for world peace and development”, including tackling the “three evils” of terrorism, separatism and extremism.
The SCO had grown into the world’s largest regional organisation, he added, with 26 members cooperating in over 50 areas and tallying a total economic output approaching US$30 trillion.
The SCO’s international influence and appeal are increasing by the day and should carry on the “Shanghai spirit” in a world fraught with challenges, Xi added.