The China-Shanghai Cooperation Organization Demonstration Zone for Local Economic and Trade Cooperation in Qingdao, Shandong province will continue to promote institutional innovation to build a better platform for international cooperation under the Belt and Road Initiative.

The management committee of the China-SCO demonstration zone recently launched 30 institutional innovation measures covering seven areas, including modern logistics, modern trade, two-way investment, personnel exchanges, financial services, scientific and technological cooperation, as well as business environment.

The zone is designed to serve both the nation and Qingdao's strategies to deepen opening-up and international cooperation, according to local officials, adding that the new measures are set in accordance with high-standard international economic and trade rules.

"As a national-level platform, the zone must further open up to a higher level in order to allocate resources in a larger market space and to seek cooperation partners in countries involved in the Belt and Road and in the world," said Wei Liyong, a local official.