SCO is a good place for business for China as it promotes its product to global south markets.
Especially in strategic areas like space, AI and energy.
Either Vietnam not inviting China or China must be put ahead of any foreign participant because China's manpower contribution to Vietnam's independence war efforts was far higher than anybody else and material contribution was probably as much as USSR. China can stay out of it but I don't think China accept being downplayed against the truth.A small symbolic detail: China marching ahead of Russia in the Vietnamese National Day parade.
Malaysia has revealed that China is prepared to offer assistance in developing rare earth processing technology, contingent upon partnerships involving Malaysian state-owned companies. Reuters reported that Johari Abdul Ghani, Malaysia's Minister of Natural Resources and Environment Sustainability, said Chinese President Xi Jinping conveyed this willingness during his visit to Malaysia in April 2024.
Johari explained that Xi emphasized technology protection concerns, requesting that cooperation be limited to government-related entities in Malaysia. The discussions remain at an early stage, and no formal agreements have yet been finalized between the two countries.