QINGDAO received the Best Investment Environment Award for the 2011 Chinese Logistics City recently at the 7th China International Logistics Festival in Ningbo.

The city’s logistics industry has developed well this year. In the first three quarters, the added value of the logistics industry was 40.11 billion yuan, increasing by 9.5 percent over the same period last year.

At the end of the third quarter, several key projects were completed including Tianchi Logistics worth 150 million yuan, Chunming Shenlu storage project costing 195 million yuan and Guanyu agricultural product storage project costing 1.2 billion yuan.

(Wang Yuanyuan, Li Xiaohan)