China's commerce ministry said Tuesday that leaders of the Shanghai Cooperation Organization (SCO) member states issued their first-ever statement supporting the multilateral trading system, underscoring the SCO's unwavering resolve to safeguard the stability of the global trade order.
The statement was released on Monday during the SCO Tianjin Summit. Describing it as "high-level," a senior official of the Ministry of Commerce noted that this marks the first time SCO leaders have jointly issued a statement endorsing the multilateral trading system.
"The statement is well-timed," the official added. Against the backdrop of a recent framework deal on so-called "reciprocal tariffs" by some WTO members, SCO member states have reaffirmed core WTO principles, such as most-favored-nation treatment and non-discrimination, and urged all parties to uphold international trade law, including WTO rules.
"The statement is development-focused," the official said, noting that it pledges to help developing members achieve industrialization, extends support to least-developed countries in integrating more effectively into the multilateral trading system, and expects concrete outcomes from the WTO's 14th ministerial conference in 2026.
The official also added that, moving forward, China will deepen communication and cooperation with other SCO member states, actively promote genuine multilateralism, steer WTO reform in the right direction, protect the legitimate interests of developing members, and contribute to building an open global economy.
SCO members issue statement supporting multilateral trading system at 2025 summit
Russian and Kenyan experts have hailed China's Central Economic Work Conference as a pivotal moment in shaping China's economic future, with its resilience offering a stabilizing force for the global market.
Their comments followed the annual Central Economic Work Conference, held in Beijing from Wednesday to Thursday.
Chinese President Xi Jinping delivered an important speech at the conference, in which he reviewed the country's economic work in 2025, analyzed the current economic situation, and arranged next year's economic work.
Vasily Kashin, director of the Center for Comprehensive European and International Studies at the HSE University, emphasized the significance of the meeting.
"This conference is of great significance. It is not only related to the assessment of China's current economic situation, but also outlined the priorities for the future, including the next five-year plan. There has been a renewed emphasis on the significant role of new quality productive forces, new growth points, and sci-tech development. This economic work conference places a greater emphasis on action. The content of the meeting covers various economic indicators that China hopes to achieve in the near future and involves a series of specific measures aimed at optimizing economic quality and ensuring sustainable development," he said.
Kashin said China's economic progress reflects a shift towards high-tech, sustainable industries and environmental improvements.
"The achievements of China's economy are primarily related to the changes in the export structure and the sources of growth. Enterprises in the high-tech, digital economy, and renewable energy fields are playing an increasingly important role. Their product exports are on the rise, which include electrical transportation equipment, latest types of vehicles, and complex industrial equipment. This is a very important achievement. China has also carried out a great deal of work in reducing greenhouse gas emissions, optimizing the ecological environment, and raising ecological standards. These are the main achievements China has made so far," said Kashin.
Meanwhile, James Shikwati, a Kenyan economist and director of the Inter-Region Economic Network, hailed China's economic resilience over the past five years.
"China's show of economic resilience for the last five years has given the global economic sector a stabilizing factor, because right now, as you speak, many countries are in panic mode because of protectionism that is rising, especially in developed economies such as the U.S. and Europe. And China has been showing this steadiness that its economy is able to withstand those shocks, and by showing that it can withstand those shocks, it gives hope to other economies, especially from the Global South, that have always heavily dependent on Western economies," said Shikwati.
Shikwati added that China's openness to new markets offers opportunities for developing countries worldwide.
"China's opening up to the world, what it is doing is offering an alternative platform, not necessarily stopping people from the old platform, but simply creating what I'll call some kind of fresh air in the global market system, so that countries, especially from the Global South, can access its markets," he said.
Int'l experts hail China's economic resilience with high-quality development
