Member states have vowed to facilitate trade and investment in a bid to tap economic potential within the bloc, Hu said.

Hu said SCO member states have agreed to enhance cooperation in the finance,transportation, energy, telecommunications and agriculture sectors.

To advance regional economic development, the organization will continue to make efforts to establish a special account and development bank, Hu said.

The SCO's development over the next decade will weigh heavily on the peace and development of its member states, the region and the world, Hu said.

He explained that member states have approved a mid-term development strategic plan and agreed to build the SCO into a "harmonious community."

With terrorism, separatism, extremism and transnational crime on the rise, SCO member states have agreed to enhance their capacity to warn about and handle emergencies, as well as make the organization a reliable guarantor of regional security, Hu said.

SCO member states believe it is necessary to promote cultural and educational exchanges and expand their channels for people-to-people exchanges and social interaction, Hu said.

The SCO will strengthen cooperation with its observer states and dialogue partners, the United Nations and its affiliated organizations, as well as other international and regional organizations, Hu said.

Kyrgyzstan will fill the SCO's rotating presidency after the two-day Beijing summit, Hu said.

China will continue to support the SCO's development and provide aid within its capacity to other member states, according to Hu.

At the end of the summit, SCO member states adopted 10 new agreements, including the Declaration on Building a Region with Lasting Peace and Common Prosperity, the Strategic Plan for the Medium-Term Development of the Shanghai Cooperation Organization and regulations concerning the SCO's method of response to regional security threats.