SCO Demonstration Zone delivers 35 institutional innovations this year

sdchina.com2021-12-29 19:33

Since the beginning of this year, the SCO Demonstration Zone has given high priority to institutional innovation, focusing on the construction of the four centers – an international logistics center, a modern trade center, a two-way investment center and cooperation center, and a business, tourism and cultural exchange and development center. It has rolled out 35 institutional innovation achievements, fully releasing the dividends of reform.

"Five or six institutional innovations in logistics are being pushed forward," Zang Yuanqi, deputy director of International Logistics Department of SCO Demonstration Zone Management Committee, said, “Driven by innovative policies, a total of 524 Eurasian Expressways were operated in the first 11 months of this year in the SCO Demonstration Zone, up 45.6% year on year. The revenue of enterprises in the logistics zone is expected to grow by 50% year on year. The SCO countries' access to the sea for the Asia-Pacific market is being accelerated.”

"Cross-border credit reports have been used before, during and after international trade activities,” said Song Shuda, president of Qingdao Grand Credit Management Consulting Co. Ltd. “For example, we have created an overseas customer acquisition tool “Looking for Customers”, and launched the inquiry service for Russian buyers in the first phase, covering 9,961 categories of Russian imports and generating 11,512 sets of total credit reports, which can help small and medium-sized foreign trade enterprises to obtain buyers' information efficiently and conveniently.”