At SCO summit, China calls for SCO development bank
Sep 01, 2025
Tianjing [China], September 1 : Chinese President Xi Jinping on Monday said that the Shanghai Cooperation Organisation should pursue mutual benefit and win-win results, Chinese state media reported.
Xi made the remarks while addressing the 25th Meeting of the Council of Heads of State of the SCO held in Tianjin.
"We need to better align our development strategies and promote the high-quality implementation of the Belt and Road Initiative," Xi said according to Xinhua.
He further called on member nations to "uphold fairness and justice
The Chinese President called on the member states to leverage the strengths of their mega-sized markets and economic complementarity between them and improve trade and investment facilitation.
"SCO member states need to enhance mutual understanding and friendship through people-to-people exchanges, firmly support one another in economic cooperation, and jointly cultivate a garden of civilizations in which all cultures flourish in prosperity and harmony through mutual enlightenment," Xi said.
He further pledged to provide 2 billion yuan (about 281 million US dollars) in grant to member states of the SCO within this year.
Earlier ahead of the Shanghai Cooperation Organisation (SCO) Summit plenary session began on Monday, Prime Minister Narendra Modi posted pictures of his interactions with Russian President Vladimir Putin and Chinese President Xi Jinping.
"Interactions in Tianjin continue! Exchanging perspectives with President Putin and President Xi during the SCO Summit," PM Modi posted on X
Prime Minister Modi's camaraderie with Putin was palpable as the two greeted each other with smiles and hugs. PM Modi has also posted two photographs of him greeting and hugging Putin.
Putin and PM Modi were seen walking hand in hand towards Xi.The three also exchanged a few light remarks ahead of the SCO Summit's plenary session after which they walked towards the stage for a family photo of the SCO members.
The interaction between PM Modi and President Putin came ahead of their bilateral meeting which is scheduled to take place after the plenary session.
"Prime Minister will be addressing the plenary session of the Summit, where he will outline India's approach to fostering regional cooperation under the SCO umbrella. After this engagement, he is scheduled to have a bilateral meeting with President Vladimir Putin of Russia, following which he will depart for India," Foreign Secretary Vikram Misri said on Sunday.
On Sunday, PM Modi held bilateral talks with Chinese President Xi Jinping on the sidelines of the SCO leaders' summit, during which both leaders welcomed the positive momentum and steady progress in bilateral relations since their last meeting in Kazan on the sidelines of the BRICS Summit in October 2024.
