The unveiling ceremony of the China (Shandong) Information Business Center of Novosibirsk, Russia, takes place at the SCODA in Qingdao on May 23. [Photo provided to chinadaily.com.cn]

The unveiling ceremony of the China (Shandong) Information Business Center of Novosibirsk, Russia, took place at the China-SCO Local Economic and Trade Cooperation Demonstration Area (SCODA) on May 23. This event marks a significant milestone in industrial collaboration between the two regions.

The center aims to foster deep cooperation between enterprises from Novosibirsk and Shandong, promoting economic and trade exchanges between China and Russia at the local level.

Novosibirsk, strategically located in Russia, serves as a vital economic, industrial, and scientific hub in the Siberian region. Establishing the China (Shandong) Information Business Center in Qingdao utilizes the international cooperation platform of the SCODA. It enhances economic and trade information exchange between the two regions and promotes comprehensive cooperation in areas such as infrastructure development, trade interaction, industrial cluster integration, and cultural exchanges between Shandong province and Novosibirsk.

"Shandong province boasts strong industrial capabilities, presenting immense cooperation potential with Novosibirsk. By setting up an information business center in the SCODA, we can leverage the convenient transportation conditions and favorable business environment to tap into the rich market resources of Shandong and Qingdao, offering opportunities for infrastructure development, logistics, digital economy, and more in Novosibirsk," stated the minister of Ministry of Economic Development of Novosibirsk. 

Additionally, an industry cooperation matchmaking event was held at the Silk Road E-commerce comprehensive service base. Over 30 companies from Novosibirsk engaged in discussions with more than 60 domestic enterprises, covering sectors such as food and beauty products. Multiple cooperation intentions were reached in establishing cross-border e-commerce overseas warehouses, as well as in grain and oil trade.