General Administration of Customs - Trend of China's Trade Index with SCO Member States

Xinhua News Agency, Qingdao, April 26 (Reporters Zhang Wuyue, Zhang Xudong) The General Administration of Customs released China's trade index with SCO countries (hereinafter referred to as the "SCO Trade Index") at the 2021 Shanghai Cooperation Organization International Investment and Trade Expo on the 26th. The index can visually display the development level and development prospects by quantitatively evaluating the trade situation.

Li Kuiwen, spokesman of the General Administration of Customs and director of the Department of Statistics and Analysis, introduced that the index has established a scientific and objective index system with SCO characteristics from four dimensions of trade scale, development speed, trade quality and trade entities, which is the "barometer" and "wind vane" of national trade.

The reporter learned that the SCO trade index can visually display the current development level and future development prospects of China's import and export trade with SCO member countries by quantifying the trade development of SCO countries, which could provide scientific decision-making basis for governments at all levels to formulate trade development policies with SCO countries, and provide market solutions and product countermeasures for Chinese enterprises to trade with SCO countries.

In recent years, trade between China and SCO member countries has become increasingly frequent. The total value of imports and exports to SCO member countries has increased from US$17.14 billion in 2001 to US$244.85 billion in 2020, with an average annual growth rate of 15%. According to customs statistics, in the first quarter of this year, China's imports and exports to SCO member countries reached 457.24 billion yuan, with a year-on-year increase of 19.2%.

On the 26th, the 2021 Shanghai Cooperation Organization International Investment and Trade Expo and the Shanghai Cooperation Organization Local Economic and Trade Cooperation Qingdao Forum opened in Jiaozhou City, Qingdao, Shandong Province. Many guests from home and abroad, including 76 envoys from 30 countries, attended the meeting to discuss cooperation and seek common development.