The eastern coastal city of Qingdao, Shandong province will beef up efforts to boost high-quality development through openness, innovation and modernization, said local authorities.

The city will spare no effort in carrying out its 14th Five-Year Plan (2021-25), facilitate domestic and international circulation, and contribute to the new development paradigm.

The eastern coastal city of Qingdao Shandong province boasts a vibrant economy. [Photo/VCG]

Efforts will be made in new urban construction, new infrastructure, consumption upgrades, market expansion and business growth, according to the city's development plan.

To date, Qingdao has opened more than 20,000 5G base stations, and it plans to increase that number to 30,000. The 5G network connectivity rate in the city stands at 96 percent, realizing full coverage in the main urban area.

The city has seen a growth opportunity in new types of consumption in fields such as 5G and virtual reality-powered online shopping platforms, cloud gaming and smart education.

Last year, 108 flagship stores of brands from home and abroad opened in Qingdao. The influence of the city's nighttime economy ranked third in the country, stimulating new consumption and boosting economic growth.

This year, Qingdao will take targeted measures to cultivate new consumption and foster consumption upgrades in an effort to foster new growth drivers.

In a bid to build itself into an international consumption hub, Qingdao will also carry out specific projects including those focusing on new consumption centers, new brands, digital consumption and the development of cultural, tourism, sports, and educational consumption.