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.
