As a key driver of regional economic growth, expanding the number of cities with GDP exceeding one trillion yuan has become a major goal for provinces in their next development phase. Shandong's recently released "15th Five-Year Plan" proposal outlines a clear path to elevate the development capacity of its key cities, aiming to establish a coordinated development framework of "dual-city synergy, triple-core leadership, land-sea integration, and comprehensive advancement." Under this vision, Shandong plans to enhance the influence of Jinan, Qingdao, and Yantai, accelerate Qingdao's GDP growth toward the 2 trillion yuan milestone, add Weifang as a new trillion-yuan city, and support Linyi and Jining in their push toward the trillion-yuan threshold. This strategy reflects Shandong's deep planning for balanced provincial growth and its role as the economic leader of northern China.
Currently, Shandong has three trillion-yuan cities—Jinan, Qingdao, and Yantai—ranking second only to Jiangsu (5) and Guangdong (4). However, competition among provinces keeps Shandong vigilant. Jiangsu's Xuzhou reported a GDP of 953.712 billion yuan in 2024, nearing the trillion-yuan mark, while Zhejiang's Wenzhou (971.88 billion yuan in 2023) and Fujian's Xiamen are also approaching this milestone. In this "trillion-city expansion race," Shandong must consolidate its advantages, propel Qingdao past 2 trillion yuan, and activate new growth engines to strengthen its leadership in northern China.
Looking back at the "14th Five-Year Plan," Shandong's economy grew steadily, laying a foundation for the next phase. Over the past four years, its GDP grew at an average annual rate of 6.1%, exceeding the target by 0.6 percentage points, with its share of the national economy rising. In the first three quarters of this year, Shandong's GDP reached 7.7115 trillion yuan, up 5.6% year-on-year, and is expected to surpass 10 trillion yuan by year-end, becoming the first northern province to achieve this milestone. This success stems from the strong performance of its core cities. Qingdao, Jinan, and Yantai collectively contributed over 4.1 trillion yuan in 2024, accounting for more than 40% of the provincial GDP. Qingdao, leveraging its marine economy and foreign trade, was Shandong's first trillion-yuan city; Jinan capitalized on its provincial capital resources and industrial base; and Yantai, with its robust manufacturing and marine sectors, became the first non-capital trillion-yuan city in northern China in 2023.
As Shandong enters the "15th Five-Year Plan" period, it aims to further elevate these cities' roles. Qingdao, in particular, is tasked with reaching 2 trillion yuan, a goal supported by its projected 2024 GDP of over 1.7 trillion yuan. Experts suggest Qingdao must strengthen high-end manufacturing, enhance marine industries like marine equipment and biopharma, and boost modern services such as finance and logistics to achieve this target.
Beyond its "triple-core" cities, Shandong seeks to cultivate new trillion-yuan hubs to address regional imbalances. Weifang, with a 2024 GDP of 820.32 billion yuan (up 5.9% year-on-year), is the frontrunner. Its diverse industrial base—spanning 37 of 41 national industrial categories—and strengths in sectors like power equipment and chemicals position it well for the trillion-yuan leap. Linyi and Jining, with GDPs of 655.58 billion yuan and 586.7 billion yuan respectively, form the second tier of contenders. Their growth could help bridge Shandong's east-west divide and amplify the province's economic clout.
Jining is focusing on emerging industries, including new energy and advanced equipment, while Linyi is upgrading its industrial and logistics sectors, with logistics turnover exceeding 1 trillion yuan in 2024. As these cities advance, Shandong's multi-polar growth strategy will shape its economic future, reinforcing its status as a national leader.