Stadt Qingdao: SCO Demonstration Area leads high-standard opening up with institutional innovation

QINGDAO, China, Sept. 16, 2022 /PRNewswire/ -- Since its inception, the SCO Demonstration Area has given prominence to institutional innovation. It has created the "Intelligent and Innovative SCO" brand for institutional innovation, and has made more than 40 pieces of innovative achievements with SCO characteristics, such as the SCO Trade Index, "Credit SCO", "SCO Yinbaotong", "SCO Huibaotong", etc., and initially established an innovative policy system featuring "convenience in four areas and leadership in one area".

In terms of facilitating international logistics, the SCO Demonstration Area continuously innovates new models of international logistics, and operates the "SCO Express" point-to-point train services for the SCO member states. "Japan-South Korea Land-Sea Express", and "Shandong-Europe Express", etc. realize scheduled and regular operations. In terms of modern trade facilitation, it carries out the "SCO Yinguantong" customs guarantee business. Relevant import and export enterprises are entitled to "customs clearance before payment as well as summary tax payment" on presentation of the "guarantee document" issued by Qingdao Rural Commercial Bank. At present, 54 import and export enterprises have been put on the white list for convenient customs clearance of goods. In terms of two-way investment facilitation, it increases the application of Handle System and creates a new-type industrial demonstration base. At present, Handle global root node (Qingdao) public service platform for food information is being established. Many enterprises including Qingdao Pinpinhao Food Development Co., Ltd. and Qingdao Brewery Co., Ltd. have been connected to the platform. The Handle international identifier service platform has completed the basic capacity building and been put into operation. In terms of promoting people-to-people exchanges, it has promoted the development of China-SCO Institute of Economy and Trade. So far, it has held 81 training sessions such as capacity building seminar on cross-border e-commerce poverty alleviation and sustainable development for young people in developing countries (online) and the basic course on cross-border import - Kazakhstan session, benefitting more than 7,200 trainees.

Recently, the second pilot Qualified Domestic Limited Partnership (QDLP) fund has officially settled in the SCO Demonstration Area, mainly investing in carbon neutrality fields and new energy enterprises. To date, the total pilot quota of the QDLP fund in the SCO Demonstration Area reaches US$ 250 million, making it a platform for domestic funds to "invest overseas".

The SCO Demonstration Area has built the SCO "Fazhigu" brand to improve the commercial service climate. So far, the foreign-related legal service big data platform has 834 registered users, and provided legal services more than 13 times. More than 30 legal service institutions such as law firms, assessment firms, and notary offices have settled in the area to provide one-stop legal services. According to statistics, in the first half of this year, the Citizen Service Center of the SCO Demonstration Area examined and approved business licenses for a total of 1,197 enterprises, including 449 newly established enterprises.

The "dividends" of institutional innovation at the SCO Demonstration Area are emerging. Institutional advantages have been translated into advantages for development, giving a strong impetus to the opening up of the Demonstration Area.

Contact: Ms. Zhu Yiling
Tel: 0086-532-85911619
Website: http://www.qingdaochina.org/ 
Facebook: https://www.facebook.com/qingdaocity
Twitter: https://twitter.com/loveqingdao

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