Xi announced 2 billion yuan ($280 million)
Tianjin, China — Chinese President Xi Jinping positioned China as a force for global stability, pledging over $1.6 billion in financial support to partners at the Shanghai Cooperation Organization (SCO) summit.
Speaking before more than 20 world leaders, Xi called for resisting “hegemonism” and promoting a fairer global order. Without naming the U.S., he criticized “Cold War mentality” and “bullying practices,” echoing Beijing’s stance against Washington’s trade wars and unilateral policies.
Xi announced 2 billion yuan ($280 million) in grants this year, plus 10 billion yuan ($1.4 billion) in loans to SCO members over three years.
Russian President Vladimir Putin backed Xi’s message, saying the SCO provides a foundation for a “new system” of security in Eurasia — an alternative to Western-led alliances.
The summit also highlighted the growing personal bond between Xi and Putin, underscoring their joint effort to reshape global power dynamics.