On the fringes of the fifth Qingdao Multinational Summit, a promotion event dedicated to the China-SCO Local Economic and Trade Cooperation Demonstration Area (SCODA) was held in Qingdao, East China's Shandong province, on Aug 29.

The event drew approximately 160 participants from international organizations, government authorities, business organizations, and multinational companies from 15 countries including Japan, South Korea, the United Arab Emirates, Singapore, and Germany, as well as representatives from relevant provinces and cities nationwide and leading domestic enterprises. These participants represent sectors ranging from next-generation information technology, new energy, high-end equipment, modern financial services, and international logistics.

SCODA has developed into a critical hub for international trade, seamlessly integrating sea, road, air, and rail transport. In recent years, Shandong has committed to high-standard planning, high-quality development, and efficient management, significantly enhancing SCODA capabilities.

The province aims to deepen ties with multinational corporations fostering collaboration that supports high-level construction and development of SCODA. This initiative aligns with the Belt and Road Initiative, emphasizing shared benefits and mutual growth.

The event provided multinational corporations with a high-level international cooperation platform to deepen their understanding of the development potential in Shandong and the SCODA.

It expressed Shandong's unwavering determination and confidence in multinational corporations to expand its openness further. It also sent out a positive signal of leveraging SCODA's national strategy to promote high-quality development under the Belt and Road Initiative.