China Invites 30 Countries to Discuss De-Dollarization at SCO Summit
China has invited around 30 countries to attend the SCO 2025 summit to discuss new trade policies, including de-dollarization initiatives. The Shanghai Cooperation Organization (SCO) summit is scheduled to be held in China’s Tianjin city on Sunday, August 31, 2025.
However, China did not specify the names of the 30 countries and organizations that are invited to the upcoming summit. Most likely, they are developing countries with a similar mindset who want to diversify their central banks with gold and local currencies. The goal is to end US dollar dependency and make their economies stronger without the USD.
Also Read: Why ASEAN Isn’t Using the US Dollar as Much Anymore
China will host the SCO 2025 summit in Tianjin, with member nations, guest countries, and organizations being a part of it. The Xi Jinping administration has made the summit an open-for-all meeting to set the stage for the upcoming financial tilt. De-dollarization will also be discussed at the SCO summit, where China might initiate new trade deals in local currencies.
China Pushes For De-Dollarization Ahead of the SCO 2025 Summit
Just recently, during the SCO Global Mayor’s Dialogue, China proposed to launch a digital trading platform to bypass the US dollar. The proposal is consensus-based, and all member nations have to agree with the development. If a new digital trading platform is launched after the SCO summit, it could advance de-dollarization at a faster pace.
Apart from de-dollarization, the 30 countries will also discuss transport, urban infrastructure, technology, investment, cultural ties, and green development. SCO consists of 10 member nations: China, India, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan, Uzbekistan, and Iran.
Also Read: De-Dollarization in Africa Is Failing as Public Wants the US Dollar
China confirmed this month that it has settled 92% of all trades with its SCO counterpart, Russia, in local currencies. This includes payment settlements in both the Chinese yuan and the Russian ruble. Therefore, de-dollarization is a strong topic at the SCO 2025 summit, where China plans to push it on other countries.
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China Invites 30 Countries to Discuss De-Dollarization at SCO Summit
China has invited around 30 countries to attend the SCO 2025 summit to discuss new trade policies, including de-dollarization initiatives. The Shanghai Cooperation Organization (SCO) summit is scheduled to be held in China’s Tianjin city on Sunday, August 31, 2025.
However, China did not specify the names of the 30 countries and organizations that are invited to the upcoming summit. Most likely, they are developing countries with a similar mindset who want to diversify their central banks with gold and local currencies. The goal is to end US dollar dependency and make their economies stronger without the USD.
Also Read: Why ASEAN Isn’t Using the US Dollar as Much Anymore
China will host the SCO 2025 summit in Tianjin, with member nations, guest countries, and organizations being a part of it. The Xi Jinping administration has made the summit an open-for-all meeting to set the stage for the upcoming financial tilt. De-dollarization will also be discussed at the SCO summit, where China might initiate new trade deals in local currencies.
China Pushes For De-Dollarization Ahead of the SCO 2025 Summit
Just recently, during the SCO Global Mayor’s Dialogue, China proposed to launch a digital trading platform to bypass the US dollar. The proposal is consensus-based, and all member nations have to agree with the development. If a new digital trading platform is launched after the SCO summit, it could advance de-dollarization at a faster pace.
Apart from de-dollarization, the 30 countries will also discuss transport, urban infrastructure, technology, investment, cultural ties, and green development. SCO consists of 10 member nations: China, India, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan, Uzbekistan, and Iran.
Also Read: De-Dollarization in Africa Is Failing as Public Wants the US Dollar
China confirmed this month that it has settled 92% of all trades with its SCO counterpart, Russia, in local currencies. This includes payment settlements in both the Chinese yuan and the Russian ruble. Therefore, de-dollarization is a strong topic at the SCO 2025 summit, where China plans to push it on other countries.
Read More