As the Shanghai Cooperation Organization (SCO) Summit gears up in Tianjin from August 31 to September 1, China’s trade with SCO member states has surged to unprecedented levels. Since the SCO’s launch in 2001, bilateral exchanges have rocketed 30-fold, reaching 3.65 trillion yuan (over $512.5 billion) in 2024, according to Chinese customs data.
This boom reflects deeper ties across sectors:
- Energy and Resources: China now imports and exports more oil, gas and minerals, fueling infrastructure projects from Central Asia to South Asia.
- Technology and Digital Trade: Cross-border e-commerce platforms and tech startups are bridging markets, driving digital services exports up 15% year-on-year.
- Infrastructure Connectivity: High-speed rail and port developments under the Belt and Road framework are streamlining supply chains across Eurasia.
- Green Growth Initiatives: Collaboration on renewable energy and sustainable agriculture projects is gaining momentum, aligning with regional climate goals.
Entrepreneurs and young professionals are tapping into this expanding market, while travelers and digital nomads benefit from improved transport links and cultural exchanges. Thought leaders point to data-driven policies and a focus on sustainability as key to sustaining growth.
With thousands of delegates, business leaders and changemakers convening in Tianjin, expectations are high for fresh agreements on trade facilitation, tech innovation and environmental cooperation. As the SCO community strengthens its economic backbone, the coming summit could set the stage for the next decade of regional prosperity.
How will these new partnerships shape the future of global trade? Share your thoughts and join the conversation.
Reference(s):
China's economic & trade cooperation with SCO member states picks up
cgtn.com
