A new Eurasian trade platform will be established in the China-Shanghai Cooperation Organization Demonstration Zone for Local Economic and Trade Cooperation in Qingdao.

The $100 million project involves building a high-end trade credit service platform to facilitate economic collaboration with Shanghai Cooperation Organization members and cross-border trade of bulk commodities, local officials said.

Through the platform and preferential policies, the project will attract all kinds of international and domestic economic organizations and industrial enterprises.

The China-Shanghai Cooperation Organization Demonstration Zone for Local Economic and Trade Cooperation in Qingdao [Photo/dailyqd.com]

Located in the Jiaozhou Economic and Technological Development Zone in Qingdao, the China-SCO demonstration zone is designed to facilitate international cooperation under the Belt and Road Initiative and foster collaborations in logistics, trade, investment, tourism and culture. It also helps serve Qingdao's new position as a pivot that connects the East and West through land and sea transportation systems.

The new project will bring new impetus to the development of the SCO demonstration zone, accelerate the pace of breaking down trade barriers among SCO member states and promote transnational trade cooperation, local officials said.