In September 2014, Chinese President Xi Jinping announced the launch of CEF during the SCO Summit in Dushanbe.
In November 2013, Chinese Premier Li Keqiang proposed that "China is willing to establish the China-Eurasian Economic Cooperation Fund targeting Eurasian countries that are SCO members, observers and dialogue partners" at the 13th Prime Ministers´ meeting of SCO in Tashkent.