Shandong zone furthers trade with SCO nations

(| Updated : 2021-03-04

Print Print

The China-Shanghai Cooperation Organization Demonstration Zone for Local Economic and Trade Cooperation in Qingdao, Shandong province has contributed greatly in economic collaboration with SCO members, said Shandong officials.


The eastern coastal city of Qingdao, Shandong province boasts a vibrant economy. [Photo provided to]

Over the past year, the China-SCO demonstration zone has been ramping up efforts to create a better platform for international cooperation under the Belt and Road Initiative, as well as to develop collaborations in logistics, trade, investment, tourism, and culture with SCO member states.

Seventeen international and domestic freight trains have been put into operation on a regular basis in the zone, which has also opened the land-sea express lines to South Korea and Japan, as well as express lines to SCO nations.

A business club has been launched in the zone to facilitate trade and cooperation with SCO members, which has gathered about 686 trading enterprises.

In 2020, the multi-modal transport center in the China-SCO demonstration zone operated 401 Eurasian freight trains, up 15.8 percent year-on-year, with container throughput reaching 765,000 twenty-foot equivalent units (TEUs), up 11 percent.

Official data showed that last year, the zone's trade with SCO countries reached 1.29 billion yuan ($199.43 million), an increase of 51.3 percent year-on-year.

Over the 14th Five-Year Plan period (2021-25), the zone will expand its role to serve Qingdao's position as a node to connect the East and West through its land-sea transport systems, as well as contribute to the city's efforts in deepening opening-up and international cooperation, said Shandong authorities.