The city of Qingdao, East China’s Shandong province, signed a cooperation agreement with International Enterprise Singapore (IE Singapore) on urban construction, at the 18th Meeting of the Singapore-Shandong Business Council in Jinan, the capital of Shandong, Oct 21, attended by large numbers of governmental officials of both countries.

Qingdao Economic and Technological Development Zone will collaborate with the YCH Group, Singapore's largest third-party logistics and supply chain management solutions provider and operator, to jointly build a logistics industry park in Qingdao.

The Development Zone will also work with Singapore's Banyan Tree Group, one of the world's leading international operators in the hospitality and spa industry, to establish a Sino-Singapore R & D center on marine engineering.

The two sides held a string of keynote speeches and forums on finance, scientific and technological innovation and industry transformation. Xia Geng, vice governor of Shandong province attended the meeting and made speeches.