Key Points

Addressing the 25th meeting of the Council of Heads of State of the SCO in Tianjin, Xi said, "We must promote a correct historical perspective on World War II, and oppose the Cold War mentality, bloc confrontation and bullying practices".

The veiled reference to the United States comes in the wake of reactionary tariffs imposed by the United States on several countries, which the US Appeals Court has itself ruled as "illegal."

The US imposed a 50 per cent tariff on India, including the additional 25 per cent for purchasing oil from Russia.

President Xi also called for safeguarding the UN-centred international system and supporting the multilateral trading system with the WTO at its core.

The Chinese President underlined in his remarks that the member states such pursue mutual benefits for win-win results.

Calling on the countries to seek common ground while putting aside differences, China Daily reported that Xi urged member states to respect differences, maintain strategic communication, build up consensus, and strengthen solidarity and collaboration.

On the economic front, he highlighted how the participation of 26 countries in the SCO covers a combined economic output of nearly USD 30 trillion.

Xi also pledged to provide 2 billion yuan in grants to the member states, according to China Daily, which cited Xinhua.

Xi pledged to provide 2 billion yuan (about USD 281 million) in grants to member states of the Shanghai Cooperation Organisation within this year and added that China will also issue an additional 10 billion yuan in loans to the member banks of the SCO Interbank Consortium over the next three years.

The SCO Summit is taking place in the port city of Tianjin this year.

The SCO comprises 10 members. In addition to India, they include Belarus, China, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan, and Uzbekistan. There are also several dialogue partners and observers. India has been a member of the SCO since 2017, having been an observer since 2005.

- ANI