SCO summit: China's Xi unveils vision for new global order

Chinese President Xi Jinping urged Shanghai Cooperation Organisation members to leverage their "mega-scale market" on Monday, while unveiling his ambition for a new global security and economic order, Reuters reported.

The Shanghai Cooperation Organisation (SCO) has set a model for a new type of international relations, Xi said in opening remarks addressing more than 20 world leaders at a two-day summit held in northern China's port city Tianjin.

"We should advocate for equal and orderly multipolarisation of the world, inclusive economic globalisation and promote the construction of a more just and equitable global governance system," he said, according to Reuters.

China will provide 2 billion yuan ($280 million) of free aid to member states this year and a further 10 billion yuan of loans to a SCO banking consortium, he added.

"We must take advantage of the mega-scale market... to improve the level of trade and investment facilitation," said Xi, urging the bloc to boost cooperation in fields including energy, infrastructure, science and technology, and artificial intelligence.

Xi also called on organisation partners to "oppose Cold War mentality and bloc confrontation" and to support multilateral trade systems.

United Nations Secretary-General Antonio Guterres said China played a "fundamental" role in upholding global multilateralism on Sunday.

Armenian Prime Minister Nikol Pashinyan is in China for the SCO+ format meeting within the framework of the summit.