Qingdao FTZ launches International Environmental Materials Supply Chain Platform

The investment promotion conference for the Qingdao Area of the China (Shandong) Pilot Free Trade Zone (Qingdao FTZ) International Environmental Materials Supply Chain Platform was held on July 9. The event saw the participation of over 50 industry institutions and bulk commodity enterprises, including notable organizations such as the China Synthetic Resin Association, Jyosui Syouji Co Ltd, and SNT Solution GmbH.

The investment promotion conference for the Qingdao FTZ International Environmental Materials Supply Chain Platform. [Photo provided to chinadaily.com.cn]

At the conference, the Qingdao FTZ International Environmental Materials Supply Chain Platform was officially launched. The platform aims to effectively integrate domestic and international industrial and financial resources, positioning the Qingdao FTZ to become the largest trading market for plastic pellets and derivatives in China. Two companies also signed contracts on-site during the event.

The Qingdao FTZ boasts the second-largest foreign trade port in China and serves as a crucial trading and distribution hub for bulk commodities, including crude oil, rubber, cotton, and plastics. Capitalizing on its strategic location and advantageous policies, the zone has developed an innovative bulk commodity trade ecosystem that integrates "digital warehousing, digital finance, and digital trading." This approach has driven an impressive annual average growth rate of 21 percent in foreign trade import and export value.

The launch ceremony of the Qingdao FTZ International Environmental Materials Supply Chain Platform. [Photo provided to chinadaily.com.cn]

The launch of the platform supports national green, low-carbon, and circular development goals and will boost the trade of environmental materials like plastic pellets at Qingdao Port. The Qingdao FTZ will continue collaborating with the Shandong International Bulk Commodity Trading Market to enhance the platform, providing comprehensive online and offline services for both domestic and international enterprises.