This year, 110 shipping and logistics enterprises were set up in Shinan district in Qingdao, East China's Shandong province, contributing to a total industry revenue of more than 30 billion yuan ($4.58 billion).

Officials said Shinan district has been committed to creating a comprehensive and multi-dimensional development environment for businesses, especially for shipping trade finance and logistics, by rolling out precise and effective measures for enterprises in recent years.

There are altogether nine specific measures that aim to boost economic development, local officials said. These include subsidies for investment promotions, enterprise management teams, key enterprises and growth-oriented enterprises.

To date, Shinan has made achievements in promoting the development of shipping service enterprises, well-known functional institutions at home and abroad, as well as complex platform enterprises such as "shipping + trade + finance". In particular, the district will give more rewards to newly settled and newly upgraded logistics enterprises above 3A level.