China's trade with Shanghai Cooperation Organization (SCO) member states surged to an unprecedented $512.4 billion in 2024, according to data released by the Chinese Commerce Ministry on Wednesday. The figure represents a 2.7% year-on-year increase, underscoring deepening economic integration across Eurasia.
The SCO, which includes major economies like Russia, India, and Central Asian nations, has emerged as a critical platform for regional cooperation. Analysts attribute the growth to expanded infrastructure projects, streamlined customs procedures, and increased energy trade. A ministry spokesperson highlighted the role of 'stable multilateral partnerships' in fostering supply chain resilience amid global uncertainties.
Notably, cross-border e-commerce with SCO countries grew by 18% this year, while agricultural imports from member states reached $34 billion. The figures come as China advances its Belt and Road Initiative, with 72% of SCO-related trade occurring along key economic corridors.
Business leaders and investors are closely watching SCO markets, particularly in renewable energy and digital infrastructure sectors. 'These numbers reflect Asia's shifting economic gravity,' said a Singapore-based trade analyst. 'The SCO isn't just a security bloc anymore—it's becoming an engine of South-South cooperation.'
