BEIJING: China’s trade with other member states of the Shanghai Cooperation Organization (SCO) reached a historic high, said an official of the Ministry of Commerce on Wednesday.
In 2024, the total trade volume between China and other SCO member states amounted to approximately $512.4 billion, marking a 2.7-percent increase compared to the previous year, Ling Ji, vice minister of commerce, said at a press conference.
Last year, China imported nearly $90 billion worth of crude oil, natural gas and coal from other SCO members, along with $13.66 billion worth of agricultural products, Ling said.
Energy imports from other SCO members accounted for about one-fifth of China’s total imports in 2024, according to Ling.
“The investment and industrial cooperation between China and other SCO member states has made steady progress in recent years,” Zhang Li, another official with the Ministry of Commerce, said.
In recent years, Chinese enterprises have set up more than 3,000 companies in other member states, creating over 200,000 jobs on average each year, Zhang added.
The 2025Â SCO Summit will be held from August 31 to September 1 in the northern Chinese port city of Tianjin. The event will bring together leaders from more than 20 countries and heads of 10 international organizations to outline a blueprint for the bloc’s development over the next decade.
Primarily formed to address security concerns, the SCO has, over its 24-year development, grown into a comprehensive regional organization representing nearly half of the world’s population.
