SCO holds forum on scientific, educational, economic trade integration in Qingdao

A forum on the integration of science, education and economic trade between Shanghai Cooperation Organization (SCO) countries was held in Qingdao City, in east China's Shandong Province on Thursday, ahead of the SCO Summit 2025 taking place in Tianjin.

The forum, hosted by Shandong University and the administrative committee of the China-SCO Local Economic and Trade Cooperation Demonstration Area (SCODA), brought together more than 60 experts and scholars from China, Russia, Kyrgyzstan, Kazakhstan, Tajikistan, Iran, and other countries.

At the forum, experts discussed topics including opportunities for SCO economic and trade development, the place of education in SCO economic and trade cooperation, and the deepening of cultural and economic ties.

The event also included an unveiling ceremony for a joint SCO think tank and research platform and a ceremony announcing the licensing of two joint SCO research institutes.

The SCO Summit 2025, which will be held in on August 31 and September 1, will be the largest gathering in the organization's history, with more than 20 foreign leaders and 10 heads of international organizations expected to attend.

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 14 pips to 7.0078 against the U.S. dollar Friday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.