The Shinan district in the port city of Qingdao in East China's Shandong province has one third of the city's 5A-level logistics companies based there – and it has equally impressive representation in the shipping industry – but is not resting on its laurels and is continuing its drive to attract more corporate residents.

Shinan is understood to also be home to more than 70 percent of the city's shipping logistics enterprises and more than 90 percent of the shipping companies in Qingdao – creating a powerful hub with obvious advantages.

In the first half of the year, a group of 88 new shipping logistics enterprises were established in the district, while 23 marine-related projects were implemented. Transportation, storage and postal services – which are dominated by shipping and logistics enterprises – posted revenue of 29.76 billion yuan ($4.6 billion) in the period, up 99 percent year-on-year and ranking it first in both volume and growth in Qingdao.  

Companies based in the district reportedly continue to expand and to raise their profile, both nationally and internationally. Taking as an example local group Bonex – a leading enterprise in the shipping business – the company recently listed its shares on the Shanghai Stock Exchange.

The district is taking measures to ensure the overall growth story continues. In order to encourage the development and growth of shipping-business enterprises, this year Shinan granted 1.4 million yuan of incentive funds to 12 local 3A-level and above logistics enterprises.