"The China-Shanghai Cooperation Organization Demonstration Zone for Local Economic and Trade Cooperation in Qingdao will bring huge opportunities for the city's innovation, opening-up and high-quality development," said Meng Fanli, deputy to the 13th National People's Congress and mayor of Qingdao in a recent interview.

Meng Fanli, deputy to the 13th National People's Congress and mayor of Qingdao [Photo/iqilu.com]

The overall plan for the construction of the China-SCO demonstration zone was passed during the ninth meeting of the central committee for deepening overall reform on July 24, 2019.

Meng said that establishment of the demonstration zone is a recognition and expectation of the central government for Qingdao.

Qingdao, located in the southeast coast of the Shandong Peninsula, faces Japan and South Korea across the sea. As the eastern starting point of the New Eurasian Land Bridge and as a hub city of the 21st Century Maritime Silk Road, Qingdao plays an important role in promoting international trade and cooperation.

According to Meng, in recent years trade between Qingdao and the SCO member countries has become increasingly frequent. The year before the demonstration zone was established, the trade volume reached $5.5 billion.

Meng said the demonstration zone will create a better platform for international cooperation under the Belt and Road Initiative and develop collaborations in logistics, trade, investment, tourism and culture.

The eastern coastal city of Qingdao, Shandong province [Photo/qingdaonews.com]