Trade between China, SCO members tops 290 bln USD in first seven months

The total trade volume between China and other Shanghai Cooperation Organization (SCO) member states reached nearly 300 billion U.S. dollars from January to July, marking a 1.8 percent year-on-year increase, according to China's Ministry of Commerce.

Regional economic cooperation among SCO member states has seen steady progress. Over the past five years, China's trade with other SCO members has surpassed milestones of 300 billion, 400 billion, and 500 billion U.S. dollars, reaching 512.4 billion in 2024, an all-time high.

Notably, new business forms and emerging sectors have grown rapidly. In 2024, China's e-commerce imports from other SCO members surged by 34 percent, attracting more premium products and local specialties to enter the Chinese market.

Investment, as well as economic and trade cooperation, has advanced steadily. As of July this year, China's total investment stock in other SCO member states had exceeded 40 billion U.S. dollars, with cooperation projects expanding from traditional areas like energy, mining, and infrastructure to emerging fields like digital economy and green development.

Oil prices fell on Thursday.

The West Texas Intermediate for February delivery dropped 2.83 U.S. dollars, or 4.56 percent, to settle at 59.19 dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery lost 2.76 dollars, or 4.15 percent, to settle at 63.76 dollars a barrel on the London ICE Futures Exchange.