The China-Russia Center will soon start construction in the China-Shanghai Cooperation Organization Demonstration Zone for Local Economic and Trade Cooperation in Qingdao.

The project involves a total investment of about 2 billion yuan ($313.4 million) and is designed with a construction area of about 200,000 square meters.

The China-Shanghai Cooperation Organization Demonstration Zone for Local Economic and Trade Cooperation in Qingdao [Photo provided to chinadaily.com.cn]

It will integrate modern science and technology with traditional Russian elements and consist of an information headquarters for local investment and cooperation between China and Russia, a hub for Russian enterprises in China, and a new platform for cultural tourism and scientific and technological cooperation between the two countries.

It will also help integrate the resources of high-quality Russian enterprises and promote China-Russia cooperation on multi-industry chain projects.

The China-SCO demonstration zone has been ramping up efforts to create a better platform for international cooperation under the Belt and Road Initiative and develop collaborations in logistics, trade, investment, tourism and culture. Over the past two years, the zone has built cooperative relationships with Russia in finance, bioscience, logistics, youth innovation and entrepreneurship and more.