Xi and Putin Push for New Global Order

Xi called for "equal and orderly multipolarisation, inclusive globalisation and a fairer global governance system", stressing that SCO member states should abandon "Cold War mentality and bloc confrontation", and promote multilateral trade. In line with its position of support, Xi announced 2 billion yuan ($280 million) in aid and 10 billion yuan in loans to an SCO banking consortium this year.

Putin endorsed Xi's vision, stating the SCO has brought life back to "genuine multilateralism", with expanded national currency settlements, and today's discussions on strategic partnerships to stimulate growth. Further, Putin said the bloc's cooperation could provide the foundational elements of a new Eurasian security system, which, in contrast to Euro-Atlantic structures, will grant representation to various political interests, while maintaining balance.

Leaders from India, Central Asia, the Middle East, South Asia, and Southeast Asia were present in the opening session, representing the broad spirit of solidarity and vision for development across the Global South. Modi, the Prime Minister of India, attended the summit on his first visit to China in seven years. The group agreed to view each other as development partners in civilizational development and agreed to develop trade relations with one another, in solidarity amidst increased global tariff tensions with the US and Europe.

The SCO (now 10 permanent members and 16 dialogue & observer members) has grown from 6 nations and demonstrates its expanded role of importance in security and economic cooperation across Eurasia. UN Secretary-General Antonio Guterres emphasized, on the sidelines of the summit, that China plays a "fundamental" role in defending global multilateralism.

The summit provided further evidence of a shared vision by both China and Russia to reshape politics and economics on the global stage, with the SCO prepared to be a serious counter-weight to U.S. and Western interests.