President Xi Jinping on Monday proposed the Global Governance Initiative (GGI) at the "Shanghai Cooperation Organization Plus" Meeting.

Addressing the meeting in Tianjin, Xi said global governance has come to a crossroads, with new threats and challenges increasing and the world in a new period of turbulence and transformation.

"I look forward to working with all countries for a more just and equitable global governance system and advancing toward a community with a shared future for humanity," he said.

According to Xinhua News Agency, the president highlighted five principles for the GGI: adhere to sovereign equality; abide by international rule of law; practise multilateralism; advocate the people-centred approach; and focus on taking real actions.

Xi also called for actions to defend international fairness and justice.

"We should continue to unequivocally oppose hegemonism and power politics, practice true multilateralism, and stand as a pillar in promoting a multipolar world and greater democracy in international relations," he said.

Xi said China will establish three major platforms for China-SCO cooperation in energy, green industry and the digital economy, and will set up three major cooperation centres for scientific and technological innovation, higher education, as well as vocational and technical education, according to Xinhua.

China is ready to build with all sides the artificial intelligence application cooperation centre, and share the dividends of progress in AI, Xi added.

The president also said China is ready to work with all parties to promote a correct historical perspective on World War II.

He called for joint efforts to resolutely safeguard the fruits of the WWII victory and deliver more benefits to the entire humanity through the reform of the global governance system and the building of a community with a shared future for humanity.