QINGDAO, June 10 (Xinhua) -- President Xi Jinping announced on Sunday that China will set up a 30-billion-yuan (4.7 billion U.S. dollars) equivalent special lending facility within the framework of the Inter-Bank Consortium of the Shanghai Cooperation Organization (SCO).

Xi made the announcement at the 18th Meeting of the Council of Heads of Member States of the SCO in the Chinese coastal city of Qingdao, Shandong Province.