President Xi Jinping unveiled the Global Governance Initiative at a grand gathering with leaders from the Shanghai Cooperation Organization family on Monday, stressing China's readiness to work with all countries for a more just and equitable global governance system.

The Chinese president expounded on his fourth global initiative, after the Global Development Initiative, Global Security Initiative and Global Civilization Initiative, at the "Shanghai Cooperation Organization Plus "Meeting in Tianjin.

The meeting brought together leaders of more than 20 countries from the SCO family, including member states, observer states and dialogue partners, as well as 10 international organizations.

In explaining the initiative, Xi pointed out that the Cold War mentality, hegemony and protectionism continue to haunt the world, and "global governance has come to a new crossroads".

He highlighted five principles for the Global Governance Initiative — adherence to sovereign equality, abiding by international rule of law, practicing true multilateralism, advocating the people-centered approach and focusing on taking real actions.

"We should maintain that all countries, regardless of size, strength and wealth, are equal participants, decision-makers and beneficiaries in global governance," Xi said. "We should promote greater democracy in international relations and increase the representation and voice of developing countries," he said.

He warned against "double standards" and rules imposed by "a few countries", stressing that the United Nations must remain at the core of global governance.

Xi emphasized the need to firmly safeguard the status and authority of the UN and ensure its "irreplaceable, key role" in global governance.

Meanwhile, he made an appeal for the reform and improvement of the global governance system to ensure that the people of every nation are the actors in and beneficiaries of global governance.

The goal, he said, is to better tackle the common challenges for mankind, better narrow the North-South gap, and better safeguard the common interests of all countries.

The Chinese president then made the case for taking real actions, saying that countries should adopt a systematic and holistic approach, coordinate global actions, fully mobilize various resources, and strive for more visible outcomes.

"We should enhance practical cooperation to prevent the governance system from lagging behind or being fragmented," he said.

Xi called on the SCO to step up and play a leading role and set an example in carrying out the Global Governance Initiative, saying the grouping should contribute to safeguarding world peace and stability.

"We should continue to uphold the principles of nonalliance, nonconfrontation and not targeting any third party," he added.

The organization should take responsibility for open cooperation across the globe, he said. "We should continue to dismantle walls, not erect them; we should seek integration, not decoupling."

Xi also said that SCO countries should advance high-quality Belt and Road cooperation and push for universally beneficial and inclusive economic globalization.

He announced Beijing's decision to establish three major platforms for China-SCO cooperation in energy, green industry and the digital economy, and to set up three major cooperation centers for sci-tech innovation, higher education and vocational and technical education.

China will work with fellow SCO countries in the next five years to increase the installed capacity of photovoltaic and wind power by 10 million kilowatts each, Xi said.

Xi then urged SCO countries to set an example in championing the common values of humanity, while announcing China's decision to treat 500 patients with congenital heart disease, perform 5,000 cataract operations and carry out 10,000 cancer screenings for other SCO countries.

Xi also made an appeal for SCO countries to defend international fairness and justice, saying they should continue to unequivocally oppose hegemonism and power politics, practice true multilateralism, and stand as "a pillar in promoting a multipolar world and greater democracy in international relations".

The initiative was widely welcomed and supported during the meeting, as leaders highlighted the need for a more effective governance philosophy and system as the world is confronted with widening deficits in governance, challenges to sustainable development and rising unilateralism.

Foreign Minister Wang Yi said at a news briefing on Monday that Xi's launch of the Global Governance Initiative was the "biggest highlight" of this year's SCO summit.

He said that the initiative's underlying principles are fully consistent with the purposes and principles of the UN Charter. "It is designed to firmly support the central role of the UN in international affairs, and to encourage all countries to participate in the reform and development of the global governance system through the UN and other multilateral mechanisms."

Nurlan Yermekbayev, the SCO's secretary-general, said the fact that the Global Governance Initiative "was put forward on the SCO platform carries profound symbolic significance".

"Indeed, the principles enshrined in the initiative are of paramount importance, with the people-centered approach standing out in particular. After all, as we all recognize, the initiative's central purpose is to advance human development and improve people's livelihoods."