The State Council, in a circular issued to the Shandong provincial government and the Ministry of Commerce on Oct 8, approved the general construction plan of the Shanghai Cooperation Organization (SCO) regional economic and trade cooperation demonstration area.
According to the circular, the demonstration area is aimed at building a new platform for the Belt and Road Initiative and expanding cooperation in global logistics, modern trade, two-way investment and exchanges in commerce, tourism and culture.
Thus, said the circular, Qingdao should play a role in the construction of the new Eurasian continental bridge and international maritime cooperation. At the same time, China will work with other SCO member countries to strengthen internal and external links on land and sea, and realize mutual benefits between the east and the west.
The State Council urged the Shandong provincial government to strengthen the organization and improve the working mechanism during the construction of the demonstration area. Also, the Ministry of Commerce was told to make overall plans, coordinate resources and supervise the construction.