China's Xi Jinping and Russia's Vladimir Putin declare their 'New World Order' has arrived

Chinese President Xi Jinping has called upon world leaders to unite against "hegemonism" and delivered a pointed criticism of Washington's "bullying practices" whilst promoting his vision for a fresh global order at a significant summit in China.

Xi delivered these comments during his speech at the annual Shanghai Cooperation Organisation (SCO) regional summit in Tianjin on Monday.

The gathering brought together world leaders including Russian President Vladimir Putin and Indian Prime Minister Narendra Modi. The news comes just weeks after Britain and India were to sign £4.8billion trade deal in massive Brexit boost.

Without directly mentioning the US, Xi launched a veiled attack on US President Donald Trump and his continuing trade war, urging leaders that they must "oppose the Cold War mentality, bloc confrontation and bullying practices."

Putin voiced his backing for Xi's comments, declaring that the bloc "could take on the leading role in efforts to form a more just and equal system of global governance in the world."

Xi committed 2 billion yuan ($280 million) in grants to the summit's member states this year, and pledged to establish a development bank to provide "stronger underpinnings" for security and economic cooperation.

Russia and India's strengthening relationship was also evident at the summit.

Putin was spotted travelling in a vehicle with India's Modi and the pair were also seen clasping hands at one moment.

This follows Trump's announcement of increased tariffs on India for purchasing Russian oil. In July, Trump announced that the US would impose a 25 percent tariff on goods from India, in addition to an extra import tax due to India's procurement of Russian oil.

He alleged that India's purchases of military equipment and oil from Russia were facilitating Moscow's war in Ukraine.

The summit is set to take place prior to a grand military parade in Beijing on Wednesday, commemorating the 80th anniversary of Japan's surrender in World War II.

The parade is expected to be graced by the presence of Putin and North Korean leader Kim Jong Un.