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China-SCO Demonstration Zone: Qingdao’s new role in B&R Initiative

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On the afternoon of July 24, the Overall Plan for Building the Demonstration Zone for China-Shanghai Cooperation Organization (SCO) Local Economic and Trade Cooperation was deliberated and adopted at the 9th meeting of the Comprehensively Deepening Reform Commission of the CPC Central Committee.

According to the meeting, the construction of the Demonstration Zone for China-SCO Local Economic and Trade Cooperation in Qingdao aims to forge a new international cooperation platform for the Belt and Road Initiative, expand cooperation in international logistics, modern trade, bilateral investment, commercial, tourism and cultural exchanges and other sectors, give full play of Qingdao’s role in building the economic corridor for the Belt and Road New Eurasian Land Bridge and the maritime cooperation, strengthen interconnections between China and other SCO countries, and energetically drive the opening-up layout featuring east-west bidirectional aids and land-maritime unified actions.

Situated at in Jiaozhou, Qingdao, the Demonstration Zone for China-SCO Local Economic and Trade Cooperation has 17 ongoing projects with total investment of 13 billion yuan, and 8 projects with total investment of 5.7 billion yuan to be started. Also, this year, nearly 100 fully-loaded Central Asia-bound China Railway Express trains have run to countries along the Belt and Road from the busy multimode transport center nearby.

“Centering on the positioning of ‘national focus, SCO platform, humanity tie and opening-up highland’, the Demonstration Zone has established the operation mode of ‘logistics guidance, trade expansion, capacity cooperation, cross-border development, two-park interaction’, and is accelerating the construction of a model zone and bridge tower for the local economic and trade cooperation and exchanges of SCO countries,” said Hao Guoxin, head of Steering Group for the Demonstration Zone.

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