Parallel Forum on Energy Cooperation of the SCO Industrial and Supply Chains Forum Held

2023-07-03 16:04:18 admin source: share:

On June 16, the Parallel Forum on Energy Cooperation of the SCO Industrial and Supply Chains Forum with the theme of "Building a New Platform for SCO International Energy Cooperation" was held at the Qingdao · SCODA Pearl International Expo Center. The event was hosted by the Administrative Committee of SCODA and Shandong Port Group, and organized by Qingdao International Energy Exchange. Zhang Xinzhu, Member of the Standing Committee of the CPC Qingdao Municipal Committee and Secretary of the Party Working Committee of SCODA, and Huo Gaoyuan, Secretary of the Party Committee, Chairman of Shandong Port Group, attended the event and delivered speeches. Li Fengli, Deputy Secretary of the Party Committee, Director and General Manager of Shandong Port Group Co., Ltd. presided over the event.

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Zhang Xinzhu said in his speech that energy cooperation is an important area of economic and trade cooperation between localities of the SCO countries. SCODA has cooperated with Shandong Port Group to integrate the province's oil and gas trading resources and set up Qingdao International Energy Exchange. It is committed to building an international energy exchange for SCO countries and countries along the "Belt and Road" and Northeast Asia, an oil and gas Renminbi pricing center in Northeast Asia, an energy factors and resources allocation center, and an international energy information and service integration platform, which will play a positive role in promoting the reform of domestic energy market and the security and stability of international energy production and supply chains. SCODA will speed up the construction of a multi-level market trading system, provide standard, professional and international cooperation scenarios and products for international and domestic energy trading enterprises, create a pragmatic blueprint and example of high-quality development in the energy sector, and contribute wisdom and strength of SCODA to achieve the goal of "carbon peaking and carbon neutrality" and safeguard the stability and resilience of the industrial and supply chains of global energy.

Huo Gaoyuan said in his speech that Shandong Port Group will take this event as an opportunity to further expand the role of a strategic pivot, give full play to the role of basic and hub facilities, and play a greater role in the stability and smooth flow of the SCO energy supply and industrial chains. Efforts will be made to smooth the SCO energy logistics corridor, speed up the construction of a world-class port cluster, and open up convenient channels to go global by the sea in the east and by land in the west, thus facilitating the building of a strategic stronghold of the domestic circulation and a strategic hub of the domestic and international dual circulation. The group will strive to build a major platform for SCO energy cooperation, build more consensus with all parties, jointly promote the construction of Qingdao International Energy Exchange, promote efficient allocation of oil and gas resources, promote regional energy cooperation, and promote the open development of the whole oil and gas industrial chain. Efforts will also be made to build a comprehensive service system for the SCO energy supply chain and build a comprehensive service system for the supply chain that integrates the functions of transaction settlement, asset management, asset credit enhancement, transaction financing, and digital finance, so as to serve the development of the real economy and promote economic and trade exchanges among the localities of SCO countries.

On the site, the participants held thematic discussions respectively on "Cultivating a Mutually Beneficial and Win-Win Ecology and Building an Open Energy Circulation" and "SCODA Strives to Build an International Energy Exchange", and issued the Initiative of the Parallel Forum on Energy Cooperation of the SCO Industrial and Supply Chains Forum.

As the only currency of emerging economy in the IMF's Special Drawing Rights basket, Renminbi's functions as an international currency such as cross-border payment, investment and financing, reserve and valuation are being strengthened in an all-round way. With its comprehensive competitive advantages in market scale, industrial support, infrastructure and business environment, China has become a "stabilizer" and "anchor" in the SCO and the global industrial and supply chains. In 2022, China's total import and export volume exceeded 42 trillion yuan, of which 32.9% was imported and exported to countries along the Belt and Road. Economic and trade exchanges between China and SCO countries have become increasingly close. During the discussion on the theme of "Promoting RMB Settlement of International Oil and Gas Trade", the participants agreed that promoting RMB settlement of international oil and gas trade is of great significance for continuously deepening cooperation among SCO countries in the fields of energy, trade and finance.

At present, the great changes unseen in a century are accelerating, together with the century pandemic, energy transition and other factors, all of which have caused severe fluctuations in the energy market. The balance of international energy supply and demand and the stability of the industrial and supply chains of energy have encountered great challenges. With complementary industrial structures and close energy cooperation, SCO countries play an important role in maintaining the stability of industrial and supply chains of energy. During the thematic discussion on "Cultivating a Mutually Beneficial and Win-Win Ecology and Building an Open Energy Circulation", the participants made speeches on strengthening energy trade among SCO countries and unblocking the energy circulation of SCO countries. Strengthening energy cooperation has become the consensus of SCO countries.

As the only national platform for local economic and trade cooperation in China for the SCO countries, SCODA shoulders the important task of building a new platform for international cooperation under the Belt and Road Initiative and promoting the open development of the entire oil and gas industrial chain. In the thematic discussion on "SCODA Strives to Build an International Energy Exchange", the participants made speeches on the construction, functional positioning and policy support of an international energy exchange.

It is worth mentioning that efforts have been made to jointly build an international energy exchange for the SCO countries, and serve the SCO countries for deepening energy cooperation. At the end of the event, the Initiative of the Parallel Forum on Energy Cooperation of the SCO Industrial and Supply Chains Forum was released by the hosts.

The forum proposes to give full play to the role of SCODA to serve the economic and trade cooperation of the localities of SCO countries, build platforms, link resources and provide solutions, and comprehensively "deliver substantial and pragmatic results, and improve the reputation and recognition of SCODA", so as to play a greater role in smooth domestic and international dual circulation and enable SCODA to play a bigger role in high-level opening up. We should speed up the construction of a world-class marine port to serve the unimpeded and stable supply chain of SCO countries, accelerate the construction of an international shipping hub in Northeast Asia, and help Shandong build a national strategic stronghold of high-level opening up, an international supply chain hub and an industrial agglomeration hub. We should build an international energy exchange, deepen energy cooperation among SCO countries, and make every effort to build an international energy exchange oriented towards SCO, covering the "Belt and Road" and Northeast Asia, an oil and gas price discovery center in Northeast Asia, an energy information platform for the "Belt and Road" and an integrated platform for international high-end energy services, promoting the large-scale development of international energy trade and SCO new cross-border international trade business, and forming a transaction-trade-services ecosystem in SCO countries.


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