China's goods trade with SCO member states reaches $247.7 billion, up 0.8% year-on-year - Chinese report

According to the Ministry of Commerce, economic cooperation in the Shanghai Cooperation Organization (SCO) region has been progressing steadily in recent years. In particular, the scale of trade in goods has been steadily expanding.
The value of trade in goods with allies rose 0.8% year-on-year to $247.7 billion (approximately 36.5 trillion yen). Exports were mainly electrical machinery products, automobiles and related parts, clothing, chemicals, etc., while imports were
The main products are oil and natural gas, agricultural products, coal, and minerals. The total trade volume between China and SCO member states has exceeded $300 billion, $400 billion, and $500 billion in the past five years.
By 2024, it is expected to reach a record high of $512.4 billion (approximately 75.5 trillion yen), a 2.7% increase from the same period last year. At the same time, investment and economic and technical cooperation are steadily progressing.
As of the end of June, China's direct investment in other SCO member states exceeded $40 billion (approximately 5.9 trillion yen). Investment projects include energy mining, metallurgy and chemical industries, infrastructure, and energy.
Chinese companies are gradually expanding their business from traditional fields such as construction to emerging fields such as the digital economy and green development.
The two countries are implementing energy projects and promoting cooperation in areas such as 5G, the Internet, and smart cities, helping to transform and improve local traditional industries.