India, Sept. 1 -- Chinese President Xi Jinping on Monday pitched the idea of setting up an SCO development bank amid the imposition of tariffs by US President Donald Trump in recent days that triggered global trade tensions.

Xi proposed the development of the bank during his opening remarks at the Shanghai Cooperation Organisation summit in Tianjin, which was attended by Indian PM Narendra Modi and Russian President Vladimir Putin.

In his speech, Xi expected cooperation to be enhanced in areas such as energy, infrastructure, green industry, digital economy, sci-tech innovation and artificial intelligence, as well as an SCO development bank to be established as soon as possible, reported Xinhua news agency.

To ensure better development ...