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SCODA Introduces 30 Institutional Innovation Cases in 2024

Source：Haibao News 12-17-2024 09:00:00

Throughout the year, the China-SCO Local Economic and Trade Cooperation Demonstration Area (SCODA) has beefed up efforts to expand capacity, accelerate the building of international logistics, modern trade, two-way investment, and business, tourism and cultural exchange centers and the establishment of the China-SCO Institute of Economy and Trade, and create a market-oriented, law-based, and international business environment. In so doing, SCODA has introduced a total of 30 institutional innovation cases.

In modern trade, the SCO International Hub Port Automobile Trading Center has been put into service, accelerating the export of the "new three" products, namely electric passenger vehicles, solar cells, and lithium-ion batteries, with the total used car exports exceeding 120 million yuan. In terms of two-way investment, a system for cross-border payment and settlement in local currencies for SCO member states along with independent payment network tools and standardized cross-border payment processes has been built. The system covers 71 countries and regions globally, enabling quick connections to over 260 local payment methods and more than 50 transaction currencies and supporting rapid transactions in over 10 major global currencies. Regarding business, tourism, and cultural exchanges, an innovative SCO-themed study tour system that integrates culture and tourism, the "Fragrance of Books along the Silk Road" Publishing Industry Cooperation Mechanism, and a digital publishing base have been built to enhance cohesion for mutual learning and integration.