By Christian Shepherd and Shu Zhang
QINGDAO, China (Reuters) - Chinese President Xi Jinping, whose country is locked in a high-stakes trade dispute with the United States, on Sunday said China rejects "selfish, shortsighted" trade policies, and called for building an open global economy.
"We reject selfish, shortsighted, closed, narrow policies, (we) uphold World Trade Organisation rules, support a multi-lateral trade system, and building an open world economy," Xi said in a speech in the port city of Qingdao.
The United States and China have threatened tit-for-tat tariffs on goods worth up to $150 billion each, as President Donald Trump has pushed Beijing to open its economy further and address the United States' large trade deficit with China.
"We must ... discard Cold War thinking, group confrontation; we object to acts of getting one's own absolute security at the cost of other countries' security," Xi said.
It added two new members, India and Pakistan, last year and Iran has been knocking at the door. Tehran is currently an observer rather than a full member of a bloc that also includes four ex-Soviet Central Asian republics.
Xi also said China would offer the equivalent of 30 billion yuan ($4.7 billion) in loans under a framework formed by SCO countries.
($1 = 6.4031 Chinese yuan renminbi)
(Reporting by Shu Zhang and Christian Shepherd; writing by Tony Munroe; additional reporting by Hallie Gu; editing by Richard Pullin)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)