Financial News: Mutual Insurance Societies: New Rules for Access to the Financial Market

Translation. Region: Russian Federal

Source: Central Bank of Russia –

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The new admission rules take into account the changes made to the Federal Law “On Mutual Insurance Societies” and the Law “On the Organization of Insurance Business in the Russian Federation” and will come into force on September 1, 2025.

The main innovations in the admission procedure were the presence of mutual insurance companies' own funds (capital) and the expansion of requirements for the business reputation of officials, similar to those of insurance organizations: the qualification requirements for managers are similar to the requirements for managers of an insurance organization.

More details about changes— on the website of the Bank of Russia.

Preview photo: Costello77 / Shutterstock / Fotodom

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Financial News: The Inflow of New Money to the Stock Market Accelerated: Results of the Second Quarter

Translation. Region: Russian Federal

Source: Central Bank of Russia –

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Retail investors' assets in brokerage accounts grew to 11 trillion rubles thanks to the influx of new money and the growth in the cost of bonds. The number of clients with more than 10 thousand rubles in their accounts increased to 5.1 million people.

Net contributions from retail investors amounted to 574 billion rubles, almost twice as much as a year earlier. This was influenced by a decrease in deposit rates and market expectations of further easing of monetary policy.

The investment structure has changed slightly. The share of bonds has grown to 35%, the highest since the end of 2020. In anticipation of further rate cuts, investors sought to secure high yields on long-term OFZs and medium-term corporate bonds. The share of Russian stocks in the portfolio has decreased to 28%, the lowest since the end of 2022. Units account for 16%, of which 9% are units of money market exchange-traded funds.

Read more in"Review of key indicators of brokers for the second quarter of 2025".

Preview photo: Andrey_Popov / Shutterstock / Fotodom

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Financial news: 01.09.2025, 10-11 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A0JWVL2 (EuroplanB7) were changed.

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

01.09.2025

10:11

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on September 1, 2025, 10-11 (Moscow time), the values of the upper limit of the price corridor (up to 123.06) and the range of market risk assessment (up to 1394.2 rubles, equivalent to a rate of 15.0%) of the RU000A0JWVL2 (EuroplanB7) security were changed.

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Financial news: Rostelecom shares listing on Moscow Exchange marks 30 years

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

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September 1, 2025 marks 30 years since the start of trading in shares of PJSC Rostelecom (RTKM) on the Moscow Exchange.

The company's market capitalization today is about 240 billion rubles. The share of shares in free circulation (free-float) is 29%.

Rostelecom shareholders include over half a million individuals and legal entities, including institutional investors.

The company's securities are traded in the first level of listing and are included in the calculation bases of 16 stock exchange indices, including Moscow Exchange Index, Moscow Exchange Index of Climate Resilience of Non-Financial Companies, Moscow Exchange Broad Market Index and others.

Rostelecom's ordinary and preferred shares are available on the main, evening and morning trading sessions of the Moscow Exchange stock market, as well as on an additional weekend session. In addition, investors can conclude transactions with deliverable futures on Rostelecom shares and with the issuer's bonds denominated in Russian rubles.

Congratulations to the company on the 30th anniversary of listing on the Moscow Exchange!

PJSC Rostelecom is the largest integrated provider of digital services and solutions in Russia, which is present in all market segments and serves millions of households, public and private organizations.

Moscow Exchange is the largest Russian exchange, the only multifunctional platform in Russia for trading shares, bonds, derivatives, currencies, money market instruments and commodities. The Moscow Exchange Group includes a central depository, as well as a clearing center that performs the functions of a central counterparty in the markets, which allows Moscow Exchange to provide clients with a full cycle of trading and post-trading services.

Contact information for media 7 (495) 363-3232Pr@moex.kom

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Dmitry Grigorenko: New tools for protection against fraudsters are available to citizens

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

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A number of key measures of the federal law on protecting citizens from fraudsters will come into force on September 1, 2025. The set of initiatives is designed to create additional barriers for criminals and give citizens new effective tools to control their personal data and financial transactions. Work on preparing anti-fraud measures is being carried out under the supervision of Deputy Prime Minister – Chief of the Government Staff Dmitry Grigorenko.

"As of today, citizens have access to several new tools to protect themselves from fraudsters. It is important that all these measures are not isolated solutions, but are part of the Government's systemic work to improve the security of the digital environment. Step by step, we are building a multi-level protection system that minimizes risks for citizens and significantly complicates the implementation of fraudulent schemes," said Dmitry Grigorenko.

Among the new measures that come into force on September 1 is mandatory labeling of calls from business numbers. On the screen of their phone, a person will see not only the number, but also the name of the company, as well as the category of the call: "banking services", "advertising", "real estate", "communication services" and others. This will allow them to identify the caller in advance and make an informed decision about whether to answer. At the same time, there is no need to add the subscriber to the phone book.

In order to combat the circulation of anonymous SIM cards, which are actively used by cybercriminals, a direct ban on the transfer of SIM cards to anyone other than family members and close relatives comes into force.

From today, citizens can set a self-prohibition on concluding new contracts for the provision of communication services through the public services portal or the MFC. Thus, in the event of loss of documents or other incidents, criminals will not be able to issue a SIM card in the person's name and, as a result, use it in fraudulent schemes. At the same time, a citizen can lift the self-prohibition on issuing SIM cards through the MFC at any time. He must have a passport and SNILS with him. The self-prohibition will be lifted within one day.

Finally, a measure is coming into force that allows for self-prohibition of spam phone calls, such as advertising offers or surveys. Citizens can send a request to block spam calls through their mobile operators.

Since September 1 of this year, it has been possible to apply for a self-prohibition on loans and credits in person – through MFC branches. Previously, this service was only available online. To date, about 15 million Russians have set a self-prohibition on loans and credits through the public services portal since March 1 of this year.

The possibility of establishing a "second hand" when performing banking transactions is being introduced. Each citizen can appoint a trusted person to whom the bank will contact for confirmation of the transaction – for example, issuing cash, processing a loan. The measure is relevant primarily for elderly citizens.

In addition, a "cooling off" period is being introduced for ATM transactions. Thus, if suspicious actions are detected that indicate a possible fraudulent scenario, the bank will be able to restrict cash withdrawals in excess of the established limit (no more than 50 thousand rubles per day) for 48 hours. The client will be immediately notified, and as soon as he independently confirms the legitimacy of the transaction, access to funds will be fully restored.

Information about new measures and all the tools for combating fraudsters currently in effect on the public services portal are available within the framework of the “life situation” service to protect citizens from Internet fraudsters. The service contains detailed instructions for actions in critical situations related to fraud, as well as educational materials to improve the digital literacy of users.

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Mikhail Mishustin congratulated Russian schoolchildren and students on Knowledge Day and the start of the school year

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

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Dear friends!

I sincerely congratulate pupils, students, teachers and parents on Knowledge Day.

Today, ceremonial assemblies are held in thousands of schools, colleges, technical schools and universities across the country. For millions of first-graders

and the first bell rings for first-year students, a new stage in life begins.

This is a time of personal growth, mastering subjects, and acquiring the necessary skills for a future profession.

Modern economic development, increasing the competitiveness of industries, achieving technological independence largely depends

from our talented children. Those who are just now discovering the world of knowledge and science. The Russian government is actively working in this direction, including within the framework of the implementation of the national project "Youth and Children". Modern campuses are being built, a network of advanced schools is being formed, educational and production centers are being opened, olympiads and creative competitions are being held.

The task of teachers is to help students discover their abilities, to show that studying is serious work that requires attention, diligence and discipline. On this festive day, I would like to express my deep gratitude to teachers and lecturers for their competence, responsibility and loyalty to their calling.

I wish you all good luck, health, and prosperity. Let the new school year be a year of achievements and discoveries.

M. Mishustin

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Freshman Day was held at SPbGASU

Translation. Region: Russian Federal

Source: Saint Petersburg State University of Architecture and Civil Engineering –

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Adapters are always ready to help

On August 30, the University held a Freshman Day: our new students gathered to hear good wishes and get the necessary information. They were given student cards.

Deans, deputy deans, and employees of the university's structural divisions addressed the first-year students. Outstanding graduates and representatives of partner companies were guests of the celebration.

Vladimir Sharmanov, Head of the Product and Methodology Department of the Innovation Directorate of Etalon Group, congratulated first-year students of the construction faculty on the beginning of a new stage in their lives. “Today, construction is a synthesis of innovations, digital technologies and sustainable development. You will not just erect buildings – you will be able to design smart cities, implement TIM technologies, use eco-friendly materials and change the world for the better. Within the walls of the university, you will not only receive fundamental knowledge, but also modern educational approaches with the study of robotics, the use of VR simulators and other digital technologies. Believe in yourself, do not be afraid to experiment and remember: your ideas will definitely become reality. We wish you bright projects, bold decisions and confidence in your abilities! Forward to new heights!” he said.

Oleg Fyodorov, Deputy Dean for Career Guidance, spoke to first-year students of the Faculty of Architecture about building a career: “I want you to know from the very first days: your teachers, department heads, dean’s office staff, and university management care about your future. The university and the Faculty of Architecture carry out systematic career guidance work so that you become as successful, as in-demand, and as professional as possible. The work is carried out in three main areas. The first is summer industrial practice, which begins after the fourth year. Students of the Faculty of Architecture of SPbGASU get summer practice in the best architectural studios not only in St. Petersburg, but throughout Russia. The dean’s office also receives requests from Moscow to recommend students for practical training with the prospect of employment. If students from other cities have plans to create in their small homeland, they will definitely be helped.

The second area of career guidance work is competitions. The faculty supports students' desire to participate in architectural and design competitions. This can become a significant component of the portfolio, which should be formed from the very first years of study.

The third area is assistance in employment. Despite the fact that the educational process is very intensive, some manage to start professional creative work already in their senior years. For the rest, after graduation, we are always ready to help with recommendations and selection of vacancies, we even have a separate division – the Center for Student Entrepreneurship and Career."

The topical issue of scholarships was raised by Daria Boytsova, Deputy Dean for Educational Work, Associate Professor of the Department of Architectural Design: “SPbGASU has a whole system of scholarship and material support for students. Now first-year students who study on a budgetary basis will be assigned a state academic scholarship. It will be paid after successful completion of the midterm assessment. There is also an opportunity to receive an increased state academic scholarship – it is assigned to students of the budgetary form of education for achievements in academic, scientific, research, social, cultural, creative and sports activities. Certain categories of citizens can receive a state social scholarship in the usual and increased amount. In addition, there are personal scholarships of the Government of St. Petersburg and the Leningrad Region, the President of the Russian Federation, the Government of the Russian Federation and others.

In September, the application process for the “First-Year Grant” competition will begin. First-year full-time students of all bachelor’s and specialist’s degree programs who are receiving higher education for the first time can participate in it.”

Darya Vladimirovna invited first-year students to participate in grant events and other federal projects, trips, exchange programs with foreign countries; informed about the work of the psychological support service for students and trainings of the Center for Psychological Support for Students, which help to cope with everyday problems.

Anastasia Fedakova, acting chairperson of the student council and winner of the grant competition "Rosmolodezh. Grants", spoke about what SPbGASU students live by. Anastasia is sure that SPbGASU is the best place to study. Student council projects will help you find friends, learn something new, and discover your talents. The main thing is to remember to maintain a balance between your studies and hobbies.

Congratulations to our first-year students on the start of their student life!

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The celebrations to mark the 80th anniversary of the victory in the Chinese People's War of Resistance Against Japanese Aggression and the World Anti-Fascist War will begin at 09:00 on September 3 in Tiananmen Square in Beijing.

Translation. Region: Russian Federal

Source: People's Republic of China in Russian – People's Republic of China in Russian –

An important disclaimer is at the bottom of this article.

Source: People's Republic of China – State Council News

Xinhua | 01. 09. 2025

Keywords: China

Source: Xinhua

Celebrations to mark the 80th anniversary of the victory in the Chinese People's War of Resistance Against Japanese Aggression and the World Anti-Fascist War will begin at 9:00 a.m. on September 3 in Tiananmen Square in Beijing Celebrations to mark the 80th anniversary of the victory in the Chinese People's War of Resistance Against Japanese Aggression and the World Anti-Fascist War will begin at 9:00 a.m. on September 3 in Tiananmen Square in Beijing

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/SCO Summit in Tianjin/ Full text of Xi Jinping's speech at the "SCO Plus" meeting

Translation. Region: Russian Federal

Source: People's Republic of China in Russian – People's Republic of China in Russian –

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Source: People's Republic of China – State Council News

TIANJIN, Sept. 1 (Xinhua) — Chinese President Xi Jinping delivered a speech at the SCO Plus meeting in the north Chinese port city of Tianjin on Monday.

Below is the full text of the speech:

Joining forces of the SCO to improve global governance

Speech at the SCO Plus meeting

/September 1, 2025, Tianjin/

Chairman of the People's Republic of China Xi Jinping

Dear colleagues,

This year marks the 80th anniversary of the victory in the World Anti-Fascist War and the 80th anniversary of the founding of the United Nations, serving as an important moment to commemorate the past and open up the future. Eighty years ago, the international community, drawing harsh lessons from the catastrophe of two world wars, established the United Nations, opening a new chapter in the annals of global governance. Eighty years later, the spirit of the times – peace, development, cooperation, win-win – remains unchanged, but the Cold War mentality, power politics and protectionism still rage, and new threats and challenges are on the rise. The world is entering a new period of turbulence, and global governance is at a new crossroads.

History teaches us that the more difficult the times, the more important it is to adhere to the original goal of peaceful coexistence and maintain confidence in mutually beneficial cooperation, to move forward in accordance with the logic of historical progress and to develop in line with the trends of the era.

In this regard, I would like to propose an Initiative on Global Governance, within the framework of which we are ready to create a more just and rational system of global governance with all countries, and to walk hand in hand along the path to a community of shared destiny for humanity.

It is important to ensure sovereign equality. All countries, regardless of their size, power and economic scale, have the right to equal participation, equal decision-making and equal benefit in the process of global governance. It is necessary to promote the democratization of international relations in order to increase the representation and voice of developing countries.

It is important to comply with international law. It is necessary to fully and comprehensively comply with the purposes and principles of the UN Charter and the generally recognized basic norms of international relations. It is important to ensure equal and universal application of international law and international rules, without allowing double standards and without imposing on others the so-called internal rules of individual countries.

It is important to implement multilateralism. We should adhere to the concept of global governance in the spirit of joint consultation, joint construction and joint use, strengthen solidarity and cooperation, oppose unilateralism, firmly uphold the authority and status of the UN, and give full play to the significant and irreplaceable role of the UN in global governance.

It is important to implement a human-centered approach. It is necessary to ensure joint participation and joint use of the results of global governance by the peoples of all countries through reforming and improving the global governance system in order to effectively respond to the common challenges of humanity, reduce the development gap between the North and the South, and protect the common interests of all countries in the world.

It is important to remain action-oriented. It is necessary to strengthen comprehensive, systemic planning and coordinated promotion, coordinate global actions, mobilize the resources of different parties in order to achieve greater tangible results, and overcome delays and fragmentation of governance through practical cooperation.

Colleagues!

The Declaration on the Establishment of the SCO and the Charter of the Organization clearly stated at the very beginning the importance of developing the political and economic world order in a more democratic, fair and rational direction. For 24 years, the Organization has remained committed to the "Shanghai Spirit" – mutual trust, mutual benefit, equality, consultations, respect for cultural diversity and the desire for joint development. Under the auspices of the SCO, regional issues are resolved through consultations, platforms and institutions are built jointly, the results of cooperation are available to all parties, new visions of global governance are put forward and implemented. The SCO positions itself as a constructive factor in the formation and reform of the global governance system.

Accelerating tectonic changes on a global scale require the SCO to play a leading role, first and foremost in implementing the Global Governance Initiative.

It is necessary to ensure the SCO's commitment to peace and stability throughout the world. For the sake of common security, the member states have concluded the Treaty on Long-Term Good-Neighborliness, Friendship and Cooperation, and effective interaction on security has become the key to stability in the region. It is necessary to be guided by the principles of non-alignment, non-confrontation and non-direction against third parties, to counter all types of threats and challenges with comprehensive measures, to use the role of the established Universal Center for Countering Security Threats and Challenges and the Anti-Drug Center, to form a regional security community, and to act as a stabilizing factor in a turbulent world.

It is necessary to take up the SCO burden in developing global open cooperation. Member states with rich energy resources, large markets and a powerful internal driver of development are making an ever-increasing contribution to the growth of the global economy. It is necessary to continue the clear choice in favor of destroying rather than erecting barriers, in favor of a unifying rather than divisive agenda, and at the same time ensure high-quality cooperation within the framework of the OBOR, promote the development of economic globalization in line with accessibility and inclusiveness.

China is ready to continue sharing the opportunities of its giant market and consistently implement the Action Plan for the high-quality development of trade and economic cooperation within the framework of the large SCO family. China will establish three platforms for cooperation with the SCO in the fields of energy, green industry and digital economy, as well as three Cooperation Centers in the field of scientific and technological innovation, higher education and professional qualifications. We plan to additionally implement photovoltaic and wind energy projects with a capacity of over 10 million kW each in the next five years. We are committed to working together to establish a Cooperation Center for the Implementation of AI in order to share the fruits of artificial intelligence development. We welcome the widespread use of the Beidou system and the participation of suitable parties in the construction of an international lunar station.

It is important to set a worthy example in terms of developing universal values. Cultural and humanitarian cooperation and people's diplomacy within the SCO are gaining momentum, which contributes to the prosperity of diverse civilizations. It is necessary to further strengthen inter-civilizational mutual enrichment, to open a bright page of peaceful, harmonious coexistence of countries with different histories, cultures, social systems and levels of development.

We will hold the SCO Political Parties Forum, the Forum on Green and Sustainable Development and the Forum on Traditional Medicine with dignity. Over the next 5 years, the Chinese side is ready to operate on 500 patients with congenital heart defects, perform 5,000 cataract surgeries, and conduct 10,000 cancer screenings for the SCO countries.

It is important to act in solidarity on behalf of the SCO in order to uphold international justice. The member states of the Organization, adhering to the principles of justice and impartiality, take a constructive part in international and regional affairs in defense of the common interests of the Global South. It is important for us to continue to unequivocally oppose hegemony and power politics, implement true multilateralism, and serve as a supporting pillar for advancing the formation of a multipolar world and the democratization of international relations.

China supports the expansion of cooperation between the SCO and the UN, ASEAN, the EAEU, the CICA and other multilateral formats to ensure international trade and economic order and improve global and regional governance.

Dear colleagues,

As the Chinese proverb goes: "Whoever holds the Great Image, others will come to him." In two days, Beijing will hold a jubilee celebration to mark the 80th anniversary of the Chinese People's Victory in the War of Resistance Against Japanese Aggression and the Victory in the World Anti-Fascist War. Many of you will be there. We are ready to fulfill our international obligations and adhere to the greatest ideal, defend historical truth, firmly uphold the results of World War II, and ensure that the reform of the global governance system and the formation of a community with a shared future for mankind bring real benefits to all mankind.

Thank you for your attention. -0-

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/SCO Summit in Tianjin/ Full text of Xi Jinping's speech at the 25th meeting of the SCO Council of Heads of State

Translation. Region: Russian Federal

Source: People's Republic of China in Russian – People's Republic of China in Russian –

An important disclaimer is at the bottom of this article.

Source: People's Republic of China – State Council News

TIANJIN, Sept. 1 (Xinhua) — Chinese President Xi Jinping delivered a speech at the 25th meeting of the Council of Heads of State of the Shanghai Cooperation Organization (SCO) in the north Chinese port city of Tianjin on Monday.

Below is the full text of his speech:

Stay true to the original mission for a brighter future

Speech at the 25th meeting of the Council of Heads of State of the Shanghai Cooperation Organization

/September 1, 2025, Tianjin/

Xi Jinping

Chairman of the People's Republic of China

Dear colleagues,

24 years ago, soon after the SCO was founded, the “Shanghai Spirit” was approved – mutual trust, mutual benefit, equality, mutual consultations, respect for cultural diversity and the desire for joint development. Over the past 24 years, member states, guided by this spirit, have shared opportunities for the sake of joint development, achieved a number of unprecedented breakthrough results in the development of the Organization and cooperation within its framework.

We were the first to establish a mechanism of mutual trust in the military field in the border areas, and turned the long border lines into bonds of friendship, mutual trust and cooperation. We were the first to launch multilateral operations to combat the three evil forces, we have been successfully advancing cooperation in the field of law and order and security, properly handling contradictions and differences, clearly opposing external interference, and reliably upholding peace and security in the region.

We are at the forefront of the joint construction of the “One Belt, One Road”. A number of significant projects and small but highly profitable social projects have been implemented, industrial and investment cooperation is being actively promoted, which gives an inexhaustible impetus to the development and prosperity of the region. It is gratifying that the task I set to bring the accumulated trade volume between China and the SCO member states to 2.3 trillion dollars has been accomplished ahead of schedule. The network of multi-level transport interconnectivity is being improved. The total length of international highway sections passing through the territory of the Organization’s member states is more than 14 thousand kilometers. More than 110 thousand trips have been made along the China-Europe international railway freight route.

We were the first to conclude the Treaty on Long-Term Good-Neighborliness, Friendship and Cooperation, which states “forever friends, never enemies.” The SCO Committee on Good-Neighborliness, Friendship and Cooperation is working with full dedication, an extensive network of friendly exchanges between citizens has been formulated, in particular by expanding ties between regions, the media, experts, women and youth, the peoples of the Organization’s member states are significantly closer, their mutual understanding is strengthened.

We are the first to put forward the vision of global governance in the spirit of joint consultation, joint construction and common use, and implement genuine multilateralism. We deepen cooperation with the UN and other international organizations, constructively participate in the international and regional agenda, always stand for international justice, advocate tolerance and complementarity among civilizations, oppose hegemony and power politics, and play a worthy role in maintaining world peace and development.

Dear colleagues!

The SCO has already become the world's largest regional organization, covering 26 countries, more than 50 areas of cooperation with a total economic volume of up to 30 trillion US dollars. The international authority and attractiveness of the Organization is constantly growing.

Looking back, there have been hardships and difficulties, but we have achieved today's success under the auspices of the "Shanghai Spirit". Ahead of us are waves and changes in the world process, which cannot be overcome without adherence to the "Shanghai Spirit" with perseverance and the identification of the role of the Organization.

First, strive for unity while preserving differences. Our strength and advantage lie in common aspirations, and our soul and wisdom lie in reaching consensus. All member states, as friends and partners, should mutually respect each other's differences, maintain strategic dialogue, consolidate common understanding, strengthen solidarity, expand cooperation, fully utilize each other's potential, and jointly bear responsibility for the peace, stability, development and prosperity of our region.

Second, adhere to the principle of mutual benefit and win-win. It is important to deepen the alignment of national development strategies and high-quality cooperation under the Belt and Road Initiative, strengthen the driver of regional development, and improve people's well-being through joint consultation, joint construction and use. It is necessary to fully utilize the advantages of super-large markets and the complementarity of the economies of member states, improve the level of trade and investment facilitation, strengthen cooperation in energy, infrastructure, green industry, digital economy, technological innovation and AI, and jointly realize modernization through mutual support for a common future.

Third, maintain a commitment to openness and inclusiveness. The Eurasian continent, as the cradle of ancient civilizations, has intensified the ties between East and West and promoted human progress. The peoples who inhabited it, although from different countries, have shared almost everything since time immemorial, generously enriching each other. The SCO member states should draw closer in heart through cultural and humanitarian exchanges, support each other in economic cooperation, and jointly build a “blooming garden of civilizations” in the spirit of common prosperity, universal beauty and harmonious coexistence.

Fourth, uphold equity and justice. We must uphold the historical truth about World War II, oppose the Cold War mentality, bloc confrontation and bullying, defend the UN-centric world order, and support the multilateral trading system based on the WTO. We should promote equitable and orderly multipolarity, as well as accessible and inclusive economic globalization, and advance the formation of a global governance system toward equity and rationality.

Fifth, adhere to a pragmatic approach and efficiency. It is important to steadily promote the reform of the SCO, increase the allocation of resources and enhance its capacity, so that the mechanism of the Organization is improved, decisions are made more scientifically and effectively, and actions are more effective. It is necessary to open as soon as possible the Universal Center for Countering Security Challenges and Threats and the Anti-Drug Center, and establish the SCO Development Bank to provide more powerful support for the security and economic cooperation of member states.

Colleagues!

China has always linked its own development with the development of the SCO and with the aspiration of the people of all member states for a better life. At present, the total volume of Chinese investments in other SCO member states has exceeded 84 billion US dollars. Today, China's annual bilateral trade turnover with other member states is over 500 billion dollars.

In promoting the development of the SCO, the Chinese side has always been practical-oriented. We plan to implement 100 small but highly effective social projects in member states in need, provide member states with grant assistance in the amount of 2 billion yuan by the end of this year, issue a new loan to members of the Interbank Association in the amount of 10 billion yuan in the next three years, and also double the quotas for the SCO special scholarship starting next year on the existing basis, implement a program for innovative training of SCO doctoral students for the joint cultivation of research talents. We intend to build 10 new "Lu Ban Workshops" in the territory of member states in the next five years and allocate 10,000 quotas for participation in professional training courses for human resources.

Dear colleagues!

The common goal unites us, erasing all barriers and distances. Let us, remaining true to the original mission, actively take responsibility and act, with a more confident position and more pragmatic measures, to advance the SCO towards sustainable and stable development, firmly follow the path to a wonderful future of forming a community of common destiny for mankind.

Thank you for your attention. -0-

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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