On November 28, China-SCO Local Economic and Trade Cooperation Demonstration Area (SCODA), Qingdao SCO Development Group and Power Construction Corporation of China entered into a cooperative agreement on the Sino-Russian Center, marking the official settlement of the center in SCODA.

With a total investment of approximately 2 billion yuan and a floor area of some 200,000 square meters, the center will fully integrate modern technologies with traditional Russian elements, and build sectors such as Russian CBD, Liaison Office of the Russian Alliance of Oblasts, Russian Alliance of Enterprises, Sino-Russian culture & tourism cooperation and Sino-Russian sci-tech cooperation, so as to create a new platform and bridge for Sino-Russian local investment exchange and cooperation.

Based on enterprise cooperation, the Russian Alliance of Enterprises will integrate quality enterprise resources of Russia, facilitate in-depth industrial chain cooperation and build a place of gathering for Russian enterprises. Through Sino-Russian enterprise cooperation, the alliance will promote the formation of multiple Sino-Russian industry chains, expand the influence of the center and achieve siphon effect for Sino-Russian industry chain clusters.

Over the past two years since breaking ground, SCODA has worked with Russia in diverse fields such as investment, trade and culture, launched an all-cargo air route and point-to-point freight trains to Moscow, set up the 100-billion-yuan Sino-Russian Energy Fund, and brought in projects such as RCT, Jin'esheng Trade and SCODA (Sino-Russia) Biopharmaceutical Industry Park. To date SCODA has signed memorandums of friendly cooperation with 9 parks and industrial associations, including Alabuga Special Economic Zone, Russia.