China-SCO Local Economic And Trade Cooperation Conference Kicks Off In Qingdao

QINGDAO, (APP - UrduPoint / Pakistan Point News - 20th Jul, 2025) As China assumes the rotating presidency of the Shanghai Cooperation Organization (SCO), the China-SCO Local Economic and Trade Cooperation Conference commenced at the SCO Pearl International Expo Center in Qingdao, showcasing strengthened regional collaboration under the theme "Jointly Pursuing Regional Cooperation and Collaborative Innovation Development".

Jointly organized by the Shandong Provincial People’s Government, Department of Commerce of Shandong Province and Qingdao Municipal People’s Government, the event gathered nearly 300 Chinese and international delegates to explore cooperation opportunities and strengthen economic ties. The conference serves as a crucial platform to enhance exchanges between Shandong and SCO member states, injecting new momentum into global economic cooperation and the development of an open world economy.

Since its establishment in 2019, the China-SCO Local Economic and Trade Cooperation Demonstration Area (SCODA) has evolved into a vital gateway connecting SCO countries with Asia-Pacific markets. Focusing on building four key centers—international logistics, modern trade, two-way investment and cultural tourism exchanges—along with the SCO Institute of Economy and Trade, the SCODA has significantly boosted regional economic integration.

Trade statistics underscore the growing economic ties, with Shandong’s trade volume with SCO countries reaching 531.6 billion Yuan in 2024.

The first half of 2025 saw continued expansion at 10.6% year-on-year growth to 290.6 billion yuan. Automotive components and chemical products dominated exports, while energy and mineral resources accounted for the majority of imports, demonstrating the mutually beneficial nature of regional trade.

The conference leveraged the platform to deepen industrial and supply chain cooperation, with participants sharing insights on enhancing trade and investment across multiple sectors. Key discussions centered on minerals, new energy, advanced manufacturing, agricultural technology and digital commerce, reflecting the diverse economic complementarity among SCO nations, CEN reported.

A highlight of the event was the launch of the Qingdao Initiative for China-SCO Local Economic and Trade Cooperation Conference, which outlines a strategic path for high-quality regional economic cooperation through innovative partnership models and enhanced platform development. Parallel sessions explored critical topics including digital trade under the “Digital Silk Road” framework and financial mechanisms to support SCO economic growth, offering practical solutions for sustainable development.

Supporting events such as the SCO Industrial Chain and Supply Chain Forum, the Belarusian Investment Promotion Conference and the 4th SCO International Investment and Trade Expo provide targeted networking opportunities and foster concrete business collaborations.

APP/asg