Qingdao bonded port and the Jiaozhou municipal government signed an agreement on March 20 to build a functional zone. The zone will focus on building bases for the automobile industry, liquor export and import trade, and modern logistics.

Last year, the State Council approved construction of a whole vehicle import port and liquor export and import trade base within Qingdao bonded port. To date, the bonded port has attracted 40 Fortune Global 500 companies and established trade relations with over 130 countries and regions as well as more than 450 ports.

Edited by Michael Thai, Li Xiaoliang and Gao Yuan