China’s President Xi Jinping emphasizes shared responsibility for promoting growth and opposes the idea of decoupling in international relations, as reported by Chinese state media. During a virtual summit of the Shanghai Cooperation Organization (SCO), Xi highlighted the importance of economic growth and cooperation among countries in the region. The SCO, consisting of China, India, Russia, Kazakhstan, Kyrgyzstan, Pakistan, Iran, Tajikistan, and Uzbekistan, serves as a political, security, and trade alliance. Notably, Saudi Arabia gained promotion to the status of an observer state and dialogue partner within the SCO in March.

Xi Jinping expressed China’s willingness to collaborate with all parties to implement the Global Development Initiative, aiming to expand opportunities and improve the lives of people in different countries. This initiative, proposed by Xi to the United Nations in 2021, aligns with the United Nations’ sustainable development goals. It emphasizes China’s commitment to combat protectionism, reject unilateral sanctions, and refrain from generalizing the concept of national security.

The timing of Xi’s remarks coincides with the upcoming visit of U.S. Treasury Secretary Janet Yellen to China from Thursday to Sunday. Yellen’s visit follows U.S. Secretary of State Antony Blinken’s recent trip to Beijing, which carried significant diplomatic weight. Over the past few years, tensions between the United States and China, the world’s two largest economies, have intensified, with a particular focus on technological competition and security concerns.

In response to these tensions, China’s Ministry of Commerce announced on Monday its decision to restrict the exports of two metals crucial for semiconductor manufacturing. This move comes after the U.S. implemented export controls in October, aiming to curb China’s advancement in advanced semiconductor development.

As global economic dynamics evolve and geopolitical rivalries persist, President Xi Jinping’s remarks underscore China’s commitment to promoting shared growth, fostering international cooperation, and opposing measures that could lead to the decoupling of economies.