02.09.202503:26:44UTC+00China Hosts SCO Summit, Calls for Fairer Global Order

The leaders of China, Russia, India, and seven other nations convened in Tianjin on Monday for the annual gathering of the Shanghai Cooperation Organization (SCO). Established 24 years ago, the SCO has broadened its influence and now comprises 27 members and affiliates throughout Central and Southeast Asia. During the summit, President Xi Jinping introduced initiatives that include the creation of an SCO development bank and a cooperative platform dedicated to green and energy industries. Additionally, he announced the provision of USD 1.4 billion in loans over the forthcoming three years. President Vladimir Putin expressed his support for Xi’s proposals, asserting that the SCO holds the potential to play a pivotal role in shaping a more just and equitable system of global governance. Xi also encouraged members to abandon Cold War mindsets, avoid divisive power blocs and hostility, and instead, defend the United Nations-centered system while striving for a multipolar and more equitable global governance order.