"This medal of friendship represents the Chinese people's lofty respect for President Putin, and symbolizes the profound friendship between China and Russian Federation", he said.
"The relationship between Russian Federation and China is a friendly, neighborly one, developing.in the spirit of overarching strategic partnership", he said.
Asked for his impression of the Chinese leader for life, Putin said Xi was "approachable and sincere", as well as "perhaps the only state leader who has celebrated my birthday with me".
The Chinese president even gave his Russian counterpart a large gold necklace-technically a "friendship medal"-as a symbol of their growing bond".
Putin also hit Trump on Sunday for his decision to withdraw from the Iran nuclear deal earlier this year.
Professor Zhu Feng, director of Nanjing University's Institute of International Studies, also said the award was a clear signal to the USA that if it increased pressure on both countries, it would mean both China and Russian Federation would have no choice but to increase cooperation so they can jointly deal with Washington.
The two leaders met on the sidelines of the Shanghai Cooperation Organization summit in the coastal Chinese city of Qingdao.
Washington's relations with Moscow have been particularly strained in the wake of the 2016 US presidential election, which USA intelligence agencies said was targeted by Russian Federation.
Iran's President Hassan Rouhani has slammed U.S. attempts to impose its own policies on others, saying Washington's "unilateral sanctions" damage worldwide business.
While Xi feted his peers with fireworks, SCO members have their own disagreements, with India concerned about China's trade infrastructure project in disputed territory in arch-rival Pakistan. However, having pulled out of the deal, the U.S. now says it will impose severe economic and trade sanctions on Iran.
The president made the suggestion to reporters at the White House just before leaving for Canada to attend the annual meeting of the G-7, a gathering that already was promising to be crackling with tension over trade, Iran and Mr. Trump's sharp-edged approach to foreign leaders.
Last month, President Donald Trump pulled out of former President Barack Obama's landmark 2015 nuclear accord with Iran over the objections of European allies and other nations.
"Tomorrow we will hold the first summit of the SCO after its expansion and draw up a blueprint for its future growth", Xi said during Saturday's opening ceremony.
The level of Mongolia's ties with the SCO should be lifted and Mongolia is welcome to participate in SCO cooperation in a more in-depth way, said Xi.
The combined purchasing power of the Shanghai Cooperation Organization is greater than that of the G7, Putin said.