China projects stability at Boao forum, but structural risks cloud outlook

China is strengthening its position in Central Asia’s energy sector, while Russian state-owned companies are losing ground, reflecting a deeper structural shift driven by capital availability, technology transfer and changing energy demand patterns.

Relations between Azerbaijan and China are entering a new phase in which economic interaction is increasingly intertwined with geopolitical calculations. In recent years, bilateral ties have evolved from pragmatic economic cooperation into a formalised comprehensive strategic partnership, reflecting Baku’s growing role in Eurasian logistics and Beijing’s expanding presence in the South Caucasus.

When the Shanghai Cooperation Organization (SCO) convened its annual summit this year, two South Caucasus countries were noticeably absent from its inner circle. Azerbaijan and Armenia, both aspiring to at least observer status, faced obstacles not from Moscow or Beijing but from the regional rivalry between India and Pakistan.

When Xi Jinping addressed the Shanghai Cooperation Organization summit in Tianjin this week, his tone carried ambitions that stretched well beyond a Eurasian security bloc. What began in 2001 as a regional club aimed at counterterrorism and border disputes is now being cast by Beijing as nothing less than a vehicle to reshape the global order — with China at its center.