SCODA emerges as a vital trade hub

The Qingdao SCODA Pearl International Expo Center. [Photo provided to chinadaily.com.cn]

The China-SCO Local Economic and Trade Cooperation Demonstration Area, known as SCODA, has emerged as a vital hub for trade and business among member countries of the Shanghai Cooperation Organization. Officials recently highlighted the significant achievements made during the past five years since its establishment in Qingdao, Shandong province.

Since 2018, construction and development of SCODA in Jiaozhou, a county-level city in Qingdao have been progressing rapidly, with a particular emphasis on enhancing institutional and physical connectivity across the region and promoting high-level opening-up and high-quality development, said Zhang Xinzhu, a member of the Standing Committee of the CPC Qingdao Committee and secretary of SCODA's Party working committee.

One notable achievement is the remarkable growth in the number of international freight train lines operating in the area. In 2019 there were only two such lines, but the number has now increased to 21.

The expansion has significantly contributed to the growth of trade between Qingdao and other SCO member states. Trade value has risen from 36.13 billion yuan ($5.06 billion) in 2018 to 87.36 billion yuan in 2022, an annual increase of 24.2 percent, according to the administrative committee of SCODA.

The core area of SCODA houses the Qingdao SCODA Pearl International Expo Center, which commenced operations in November after a swift construction period of 235 days.

This expo center — hosting 20 national pavilions of SCO-related countries — holds several distinctions. It is China's first cultural experience base, the country's sole comprehensive exhibition center, and the first commercial complex exclusively catering to SCO countries.

To facilitate seamless trade and enhance efficiency, the SCODA administrative committee, in collaboration with China's General Administration of Customs, has established a comprehensive service platform.

The platform offers a full-service cycle encompassing trade, customs clearances, logistics and finance. It has attracted some 4,800 enterprises from 27 industries, including electronics technology, bio-pharmaceuticals, mechanical equipment and eco-chemicals.