One more platform for cross-border transactions among Shanghai Cooperation Organization (SCO) members was launched on Aug 9 in the China-SCO demonstration zone in Qingdao.

The China-SCO demonstration zone adds one more platform for cross-border transactions among SCO countries. [Photo/Guanhai News]

The Qingdao Asia-Europe Trading Services Co was recently put into operation, and the company will leverage the China-SCO demonstration zone to build a cross-border trading platform to serve SCO countries.

The company is a wholly-owned subsidiary of the Asia-Europe International Material Trade Center, which is a platform for cross-border commodity trading among the SCO member states and is located in the Xinjiang Uygur autonomous region.

The Qingdao subsidiary will further connect Shanghai, Guangzhou, Urumqi and other provinces and cities with the China-SCO demonstration zone, to promote personnel, resources, projects, finance and other cooperation aspects.

It will build an international trade service center integrating import and export product trading, technology transfers and services, product information releases and displays, warehousing and logistics, enterprise trainings and other functions.

It will also explore a new system for trade in services, establish a China-SCO exchange alliance, and integrate trading platforms.

The China-SCO demonstration zone is designed to serve the nation and Qingdao's strategies to expand opening-up and international cooperation.