Since the commencement of the 14th Five-Year Plan (2021-25), Qingdao has accelerated efforts to establish itself as an international consumption center.

It has been designated as a national pilot for developing an international consumption environment and fostering new formats, models and scenarios.

The city has promoted the first-store economy, attracting over 500 flagship stores of various brands.

Additionally, it has introduced 82 tax-free stores, with tax-refundable sales for foreign visitors increasing by more than 40 percent year-on-year in the first three quarters of 2025.

Qingdao has also advanced online consumption. Meanwhile, the city has intensified the national trade-in program for consumer goods, with cumulative subsidies reaching 6.64 billion yuan ($940 million).

In response to a challenging and complex international economic environment, Qingdao has implemented a series of policies to stabilize foreign trade, resulting in a substantial expansion of import and export volumes.

Currently, nearly 27,000 foreign trade enterprises in the city have actual import and export activities, an increase of more than 6,000 compared with the end of the 13th Five-Year Plan (2016-20).

More than 8,000 local enterprises have been supported in exploring overseas markets, with trade partners spanning over 230 countries and regions.

Innovative strides have been made in digital, offshore and barter trade.

Over the past five years, Qingdao has attracted 120 projects invested in by Fortune Global 500 companies, continuously optimizing the business environment for foreign investment.

The city has established a roundtable meeting system for foreign-funded enterprises and hosted multiple thematic conferences for companies from countries such as South Korea and Germany.

Moreover, the comprehensive service system of "Overseas Qingdao" has been enhanced, with 10 overseas centers set up in locations including the United Arab Emirates, Cambodia and Egypt.

This year, Qingdao's trade with Shanghai Cooperation Organization member states is projected to exceed 130 billion yuan.

Over the past five years, the China (Shandong) Pilot Free Trade Zone Qingdao Area has achieved many institutional innovation milestones, with some being promoted both provincially and nationwide.