"China will provide US$10 billion in credit support so that the Shanghai Cooperation Organisation members can make their own efforts in countering the shock of the international financial crisis," Hu told leaders gathered in the Russian city of Yekaterinburg.

In a speech to the organisation summit, which brings together Central Asian states and neighbouring powers, Hu did not give any details of the credit offer.

"The international financial crisis continues to spread and deepen... The state of world financial developments remains grim, and many countries have fallen into economic slumps," he said.

Hu said of the growth stimulus steps taken by China: "Now these measures are showing initial results and producing positive signs."

Beijing’s credit support for the Central Asian economies may come in return for greater access to oil, gas and other resources in the region to fuel China’s economic growth.

Besides Russia and China, the SCO includes the ex-Soviet Central Asian republics of Kazakhstan, Uzbekistan, Tajikistan and Kyrgyzstan.