A construction agreement was recently signed in Beijing for the establishment of the China-Shanghai Cooperation Organization's ecological and environmental protection innovation base, which will be located in Qingdao, Shandong province.

The project is expected to support Qingdao's advancements in green technology, green finance and innovative green industries, opening up fresh avenues for a comprehensive green transformation within the city's economic society, local officials said.

It also signifies Shandong's commitment to setting new benchmarks for green and low-carbon initiatives while expanding collaborative efforts in the environmental sector. As a pivotal industrial hub and a strategic economic cornerstone in China, the province is deepening its initiatives to build pilot zones for green, low-carbon and high-quality development.

By strengthening the shift from old to new economic drivers of growth, Shandong is exploring transformative pathways for development and bolstering regional development vitality.

Qingdao, a key driving force for economic and social progress in the province, is at the forefront of propelling a comprehensive green transformation. During the 14th Five-Year Plan (2021-25), the city has recorded a cumulative 10.3 percent reduction in energy intensity, surpassing the national average by a significant margin.

Notably, five enterprises have been recognized as national leaders in energy efficiency and water conservation. By October, Qingdao boasted 65 companies listed on the national green manufacturing roster, leading the province.

Also, 47 companies have been acknowledged as provincial green factories, with an additional 14 companies distinguished for their management of green supply chains, both of which solidify Qingdao's position as a leader in green industrial practices within the province.

The establishment of the innovation base in Qingdao is intricately linked to the pioneering institutional innovations within the China-SCO Local Economic and Trade Cooperation Demonstration Area in Jiaozhou, a county-level city of Qingdao.

The demonstration area, along with the Jiaodong airport economic demonstration zone, is spearheading the SCO green and low-carbon sci-tech innovation park project. With a planned construction area of 450,000 square meters, it is expected to be completed by the end of this year.

This park project is dedicated to crafting a national-level comprehensive green and low-carbon industrial hub and a low-carbon demonstration zone aligned with the Belt and Road Initiative.

Leveraging the advantages of the SCO platform, the park aims to export solutions for green, low-carbon, and high-quality development to SCO member nations and countries and regions involved in the BRI.