Move FM Global News

TIANJIN, China: Chinese President Xi Jinping has used China’s major regional summit to call on leaders to make better use of their shared “mega-scale market” and to work together on creating a fairer global system that challenges U.S. dominance.

Speaking at the opening of the two-day Shanghai Cooperation Organisation (SCO) meeting in Tianjin, northern China, Xi told more than 20 world leaders that the group had already become a model for new international cooperation. He said the world needed to move toward “equal and orderly multipolarisation,” meaning power should not be concentrated in the hands of just a few countries. He also pushed for “inclusive globalisation” that would allow developing economies to benefit, and for reforms to global governance so that it is more just and equitable.

Xi encouraged SCO members to deepen cooperation in areas such as energy, infrastructure, science, technology, and artificial intelligence. He argued that the group should use its massive combined market to facilitate trade and investment.

Russian President Vladimir Putin backed Xi’s message, saying the SCO was reviving “genuine multilateralism.” He highlighted the growing use of national currencies in trade among members, calling it the foundation for a new security and stability framework across Eurasia. Unlike Western-led security systems, Putin said this new model would be more balanced, would respect the interests of many countries, and would avoid one country gaining security at the expense of others.

The summit brought together leaders from across Asia, including Indian Prime Minister Narendra Modi, in what many described as a strong show of solidarity from the Global South. The SCO, once a six-member Eurasian group, has now grown to include 10 full members and 16 observer or dialogue partners.

The summit gave Beijing and New Delhi a chance to improve relations. Modi, visiting China for the first time in seven years, met Xi a day before the summit. Both leaders agreed that their countries should see each other as development partners rather than rivals, and discussed ways to strengthen trade ties amid ongoing uncertainty caused by tariffs.

Xi also criticized U.S. trade policies, urging members to reject “Cold War thinking” and bloc confrontations. His remarks were seen as criticism of U.S. President Donald Trump’s trade war, which continues to affect countries like India. Just last week, Indian exports were hit with a 50 percent tariff.

To strengthen cooperation, Xi pledged 2 billion yuan (about US$280 million) in free aid for SCO countries this year and 10 billion yuan in loans through the group’s banking consortium.

On the sidelines, U.N. Secretary-General Antonio Guterres praised China for its “fundamental” role in supporting global multilateralism.