Chinese President Xi Jinping, speaking at a virtual summit of the Shanghai Cooperation Organization (SCO), highlighted the collective responsibility of countries in the region to promote economic growth, reported by CNBC.

Xi said that Beijing opposes "decoupling and breaking links."

Promoting economic growth is the shared responsibility of countries in the region, Xi said, per the report of his remarks at a virtual summit of the Shanghai Cooperation Organization.

The SCO is a political, security and trade alliance whose members are China, India, Russia, Kazakhstan, Kyrgyzstan, Pakistan, Iran, Tajikistan and Uzbekistan. The group also has "observer states" and "dialogue partners," which Saudi Arabia was promoted to in March.

 Xi expressed China's willingness to collaborate with all parties in implementing the Global Development Initiative, aiming to expand opportunities and benefits for people in different countries. Xi proposed the Global Development Initiative to the United Nations in 2021. It claims to include efforts to support UN goals for sustainable development.

Furthermore, China opposes protectionism, unilateral sanctions, and the broad application of national security concepts, the report also said Tuesday.

These remarks from Xi precede the scheduled visit of US Treasury Secretary Janet Yellen to China, following Secretary of State Antony Blinken's recent trip to Beijing.

Heightened tensions between the US and China, the world's two largest economies, particularly concerning technology, have led to measures such as export controls on both sides, impacting semiconductor manufacturing.

China's Ministry of Commerce said late Monday it is restricting the exports of two metals used for semiconductor manufacturing.

The US announced export controls in October that sought to limit China's development of advanced semiconductors.