Qingdao City in Shandong Province was named "2011 China Logistics City with the Best Climate for Investment" at the 7th China International Logistics Festival in Ningbo, Zhejiang Province.

Qingdao's logistics industry has experienced phenomenal growth this year, adding 40.1 billion yuan (US $6.3 billion) in value added by the end of the third quarter, a 9.5 percent year-on-year increase.

By the end of the third quarter of 2011, over a dozen logistics projects with investment of over 100 million yuan (US$ 15.7million) entered into final acceptance or principal construction. Key investors include Tianchi Cold Chain Logistics (150 million yuan), Chunming Shenlu Warehouse Logistics (195 million yuan), Guanyu Primary Product Warehouse Logistics (1.2 billion yuan) and Xiyuanzhuang Logistics (400 million yuan).

These projects are expected to inject great vitality into Qingdao's logistics industry.