SCO countries sign 242 investment projects with Qingdao’s enterprises

Since its establishment in 2018, the SCO Demonstration Zone has been actively developing high-quality platforms that promote modern trade and bilateral investments. Qingdao’s International Energy Trade Centre, launched in February 2023 within the zone, operates as a digital platform for energy trade. To date, over 350 institutions have opened accounts on the platform, pushing the total transaction volume beyond US$2.87 million. The SCO countries sign 242 investment projects with Qingdao’s enterprises, as reported by Xinhua News Agency, a partner of TV BRICS.

The Demonstration Zone also hosts a comprehensive economic services platform, providing a range of services, from customs clearance and logistics to finance and legal support, both online and offline. In November 2022, a “one-stop-shop” service became available, with 15,000 enterprises registering on the platform and filing over 17,000 customs declarations, with a total value exceeding US$25.5 billion. In the first half of 2024, more than 4,800 customs declarations were completed, representing a 53 per cent year-on-year increase and totalling US$13.7 billion, marking an impressive sevenfold rise.

In line with its green energy goals, Qingdao inaugurated a vehicle trading hub in March 2024 within the SCO Demonstration Zone to facilitate the export of solar panels, lithium-ion batteries, and electric vehicles. Plans are underway to establish additional centres in Urumqi, Xinjiang, and Tashkent, Uzbekistan, to further support green export growth.

With a focus on strategic sectors, including the industrial internet and advanced equipment, the SCO Demonstration Zone continues to expand industry cooperation, with several key projects now operational.

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