Qingdao SCO zone promotes financial collaboration

The 2021 China-SCO Countries Financial Cooperation and Capital Market Development Forum opened in Qingdao, Shandong province on Oct 28 to further economic collaboration with Shanghai Cooperation Organization members in the China-SCO demonstration zone.

The China-Shanghai Cooperation Organization Demonstration Zone for Local Economic and Trade Cooperation, located in the Jiaozhou Economic and Technological Development Zone in Qingdao, 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.

International organizations such as the Secretariat of SCO, diplomatic envoys, representatives of financial institutions and companies, and financial experts attended the forum to discuss the increasingly dynamic financial services and capital markets of the SCO and strengthen consensus and cooperation.

The two-day forum includes an opening ceremony, promotion of the SCO demonstration zone, a project signing ceremony, report releases and round-table forums.

Qingdao's first QDLP fund was launched at the forum. The fund also marked the first overseas investment fund in the SCO demonstration zone, with a pilot quota of $150 million.

The Qualified Domestic Limited Partnership (QDLP) scheme enables global asset managers to raise funds from domestic investors in China to invest in overseas traditional and alternative assets such as hedge funds, private equity funds, and REITs.