From Aug. 29 to Sept. 3, 2015, Sergei Vadimovich, Secretary-General of the Business Council of the Shanghai Cooperation Organization (SCO), was invited to Qingdao to discuss about the construction of Eurasian Trade and Economic Cooperation Industrial Park in Qingdao. On August 31, Wang Guangzheng, deputy mayor of Qingdao, met with thedelegation, discussing about building of Belt and Road and the industrial park.

Wang introduced the development of Qingdao, showing that Qingdao was an important city in Belt and Road initiative and Eurasia Continental Bridge.

Sergei showed that Belt and Road initiative was also an important chance for the SCO. The Business Council of SCO will promote the economic and trade cooperation among member countries and support the construction of the Industrial Park.

Later, Qingdao Bureau of Commerce and the Business Council of SCO signed the Strategic Cooperation Memorandum of Eurasian Trade and Economic Cooperation Industrial Park. They reached an agreement on introducing manufacturing and equipment from Russia and Kazakhstan and bringing Chinese technology to Russia, Kazakhstan and Kirghizstan.