According to the recently-released Plan for Constructing Qingdao into a Strategic Nodal City in Modern Circulation, Qingdao, as one of 24 China’s comprehensive circulation nodal cities, will strive to come out in front in circulation innovation capacity, seek high-efficiency synergy with other nodal cities in production, supply, storage and marketing, make solid headway in the ability to allocate international resources and factor, and become a modern circulation and organization center in Northern China by 2035.

The Plan stipulates the targets of Qingdao’s efforts to build a modern circulation nodal city in different stages. By 2025, Qingdao will become a cross-regional modern circulation network hub that connects domestic and international markets, where the total retail sales of consumer goods will hit RMB680 bln, the value added in the logistics sector will amount to RMB180 bln, and the share of total social logistics costs in GDP will decline to 13.9%. By 2027, a modern circulation system, which is strategy-led, innovation-driven, well-coordinated and high-efficiency, green and safe, will be established in the main, the total retail sales of consumer goods will be worth RMB730 bln, the value added in the logistics sector will reach RMB200 bln, and the share of total social logistics costs in GDP will drop to around 13.5%.  (Yang Guang)