SCO members need to build strong engine for common development: Xi

President Xi Jinping said Sunday that the Shanghai Cooperation Organization members need to build a powerful engine to achieve common development.

Xi made the remarks at the 18th Meeting of the Council of Heads of Member States of the SCO in the Chinese coastal city of Qingdao, Shandong Province.

The SCO member states should increase the complementarity of their respective development strategies, and continue to pursue the Belt and Road Initiative under the principle of achieving shared growth through discussion and collaboration, Xi said.

They should also accelerate regional trade facilitation, and step up the implementation of the Agreement on International Road Transport Facilitation and other cooperation documents, he added.

"China welcomes all parties to the first China International Import Expo to be held in Shanghai in November this year," Xi said.

The Chinese government supports the opening of a demonstration area in Qingdao for China-SCO local economic and trade cooperation, and will set up a committee of legal services for SCO members to provide legal support for economic and trade cooperation, he said.

"China will set up a 30 billion yuan (US$4.7 billion) equivalent special lending facility within the framework of the SCO Inter-bank Consortium," Xi said.

While addressing the 18th Meeting of the Council of Heads of Member States of the SCO, the president said the SCO member states should ensure full implementation of documents including the Qingdao Declaration, and the Outline for the Implementation of the Treaty on Long-Term Good Neighborliness, Friendship and Cooperation.

The SCO member states should respect each other's choice of development paths and accommodate each other's core interests and major concerns, he said.

"We should enhance mutual understanding by putting ourselves in others' positions and boost harmony and unity by seeking common ground and setting aside differences," he added.

"We have agreed to abide by the goals and principles of the SCO Charter, carry forward the Shanghai Spirit of mutual trust, mutual benefit, equality, consultation, respect for diversity of civilizations and pursuit of common development, and jointly pursue regional peace, stability and development by promoting good-neighborliness and friendship and deepening practical cooperation," Xi said.