The eastern coastal city of Qingdao, Shandong has accomplished the goals set out for the 13th Five-Year Plan (2016-20), and the city will soon become a "moderately prosperous society in all respects", according to local authorities.

According to a news conference held by the Information Office of the Qingdao Municipal Government, the city's GDP grew at an average annual rate of 7.2 percent from 2016 to 2019 and hit 1.17 trillion yuan ($179.01 billion) in 2019, doubling its 2010 figure one year ahead of schedule.

Qingdao boasts a vibrant economy. [Photo/VCG]

The city's per capita GDP is expected to reach $19,000 this year, close to the level of medium-developed countries. The incomes of urban and rural residents will be 2.2 and 2.4 times the 2010 figures, respectively.

Over the past five years, Qingdao Port has been working to become a hub and trading port. It has added 20 new container lines with a cargo throughput of nearly 600 million tons and a container throughput of 21.01 million TEUs.

The Qingdao Liuting Airport has introduced 46 new domestic flights and 13 international flights over this period, and the Jiaodong International Airport, which will be able to handle 35 million passengers per year, has been completed.

The Jinan-Qingdao high-speed railway, Qingdao-Yancheng railway, and Weifang-Laixi high-speed railway have also finished construction. 

The city's international influence has strengthened throughout the 13th Five-Year Plan period. It has hosted a number of high-level events, such as the 18th summit of the Shanghai Cooperation Organization, multinational naval events marking the 70th anniversary of the Chinese People's Liberation Army Navy, the Qingdao Multinationals Summit, and the Global Health Forum of the Boao Forum for Asia.

Qingdao now has partnerships with 80 cities around the world, and by October this year, a total of 164 Fortune 500 companies had invested in 343 projects in the city.