EAST China's Qingdao plans to build eight new logistics parks in next five years to accelerate the pace of building the city into a complex shipping hub for northeast Asia, and a international air logistics centre, reports Xinhua.

    The city will spend CNY45 billion (US$7.1 billion) on building 63 key logistics projects covering cold chain logistics and transport, e-commerce logistics and transport, international logistics and transport, bonded logistics and transport, and logistics information platform. The city's logistics industry turnover is expected to account for 11 per cent of its GDP by 2015.