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A total of 20 key projects with a combined investment of 56.7 billion yuan ($8.64 billion) began construction at the China-Shanghai Cooperation Organization Demonstration Zone for Local Economic and Trade Cooperation in Qingdao on Nov 20.
These projects represent the largest scale and investment volume at the China-SCO demonstration zone since July 2019 when the overall plan for the construction of the zone was passed during the ninth meeting of the central committee for deepening overall reform.
In addition, six projects with a total investment of 45.6 billion yuan were also signed at the groundbreaking ceremony.
These projects, covering a wide range of industries such as infrastructure, equipment manufacturing, international logistics, modern trade, biomedicine and marine science and technology, will contribute to the construction of the China-SCO demonstration zone, as well as deepen opening-up and international cooperation, said local officials.
The China-SCO demonstration zone is designed to create a better platform for international cooperation under the Belt and Road Initiative, and develop collaborations in logistics, trade, investment, tourism and culture.
A total of 20 key projects begin construction at the China-SCO demonstration zone in Qingdao on Nov 20. [Photo/dailyqd.com]
The China-SCO demonstration zone is designed by the central government for economic collaboration with Shanghai Cooperation Organization members. [Photo/dailyqd.com]
A rendering of the new facilities at the China-SCO demonstration zone in Qingdao. [Photo/guanhai.com.cn]