Chinese president: There'll be no winners in trade and tariff wars, we need united world

ASTANA. June 17 (Interfax) - Chinese President Xi Jinping has called on the international community to act based on principles of equitability and mutual benefit, insisting that there will be no winners in trade wars.

"Only unwavering commitment to principles of equitability, justice, mutual advantage, and common benefit will help maintain world peace and achieve common prosperity. There'll be no winners in tariff and trade wars. Unilaterality, protectionism, and hegemonism will cause damage to all," Xi said at the 2nd Central Asia-China summit in Astana on Tuesday.

The world has entered an era of global turmoil and transformation amid unprecedented changes in the international situation not seen over the past centuries, he said.

"We need a united world rather than a divided one. Humankind should develop toward building a community with a shared future rather than the domination of the law of the jungle," he said.

China intends to offer 1.5 billion yuan in a grant to Central Asian countries to enhance their wellbeing in 2025, Xi said.

"We are willing to offer a free grant to Central Asian countries in the amount of 1.5 billion yuan in support for substantive projects in the five countries to enhance their populations' wellbeing and promote their development," Xi said at the summit.

The summit participants include the leaders of China, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.