The coastal city of Qingdao, Shandong province [Photo/VCG]

The eastern coastal city of Qingdao, Shandong province has launched its first batch of 300 key projects for this year to mark the beginning of the 14th Five-Year Plan (2021-25).

They include 200 municipal-level key construction projects with a planned total investment of 505.02 billion yuan ($77.98 billion) and 100 preparatory projects with a planned total investment of 140.39 billion yuan, according to the Qingdao government.

The key construction projects, covering the city's many strategic industries such as modern marine, high-end chemical, modern finance, healthcare and the next-generation IT industry, will accelerate the shift of growth drivers from old to new and foster high-quality development, said local officials.