Xi: to deepen cooperation in economy, trade, finance, tech

Xi: to deepen cooperation in economy, trade, finance, tech

Chinese President Xi Jinping has underscored the importance of deepening economic, trade, financial, and technological cooperation during his recent meetings with visiting leaders at the Shanghai Cooperation Organization (SCO) summit in Tianjin. The summit, which was attended by more than 20 world leaders, marked a significant step in China's efforts to expand its influence and challenge the Western-dominated global order.

Xi's remarks emphasized the need for enhanced economic and security collaboration among SCO members to shift away from Western dominance. He called for a multipolar world and proposed establishing an SCO Development Bank, committing $280 million in funding for member states [2]. This move signifies China's intention to transform the existing international order into a Sino-centric one, according to experts.

During his address, Xi highlighted China's investments in SCO countries, totaling $84 billion, and pledged an additional 2 billion yuan ($280 million) in funding for the year. He also called for the establishment of an SCO Development Bank to facilitate economic cooperation. Xi's speech was a direct challenge to the Western-led world order, as he vowed to oppose "hegemonism," "Cold War mentality," and "bullying practices" [2].

Xi's commitment to deepening economic ties was echoed in his discussions with visiting leaders, including Kim Jong Un of North Korea. The two leaders pledged mutual support and enhanced cooperation during talks in Beijing, where they discussed consolidating and boosting their bilateral relationship. Xi highlighted the "traditional friendship" between China and North Korea and pledged to support Pyongyang's economic development, despite ongoing U.S. sanctions [1].

In addition to economic cooperation, Xi also underscored the importance of technological collaboration. Readouts of his meetings with visiting leaders emphasized increased partnerships around tech and artificial intelligence. China is ramping up global training programs for its tools and tech, providing training worldwide through its "Luban Workshops" [3]. This initiative aims to expand China's technological influence and expertise beyond its borders.

Xi's efforts to deepen cooperation in various sectors are part of China's broader strategy to challenge Western dominance and establish itself as a global leader. His commitments at the SCO summit and subsequent meetings with visiting leaders demonstrate China's resolve to expand its influence and challenge the existing international order.

References:
[1] https://www.pbs.org/newshour/world/chinas-xi-and-north-koreas-kim-pledge-deeper-ties-between-nations-at-meeting-in-beijing
[2] https://www.timesnownews.com/world/asia/at-sco-xi-jinping-unveils-master-plan-to-overthrow-western-world-order-article-152644744
[3] https://www.cnbc.com/2025/09/03/cnbcs-the-china-connection-newsletter-tech-exports-amid-us-ai-race.html