Qingdao Yurun International Logistics Center, a privately held company under Jiangsu Yurun Group, is busy building its investment promotion center and business center in Chengyang district, Qingdao city, Qingdao Morning News reported on Monday.

Started in May, the logistics center is expected to complete workshop construction covering 210,000 square meters by the end of this year. The investment totals $900 million. Within three years, annual revenue is estimated to reach 20 billion yuan ($3.27 billion), with 500 million yuan in tax revenue, Qingdaonews.com reported.

Qingdao Yurun International Logistics Center will engage in futures trading of food, oil and cotton; auctions; e-commerce services; cold chain services; logistics distribution and one-stop supply chain services. Featuring high quality management practices and efficient operations, it hopes to become

Edited by Michael Thai, Li Xiaoliang and Zhao Jingchen