Qingdao will push forward 190 key projects at city level this year with a total investment of 650.8 billion yuan ($99.5 billion), the Qingdao Daily reported on March 3.

These projects include 98 industrial projects, 80 service projects and 12 projects concerning infrastructure and livelihood. The average investment of each project totals 3.43 billion yuan, up 6.4 percent year on year.

The port city will have the investment in 30 projects surpass five billion yuan, including eastern China's FAW-Volkswagen production base, Jiaodong International Airport and Haitian Hotel reconstruction project.

These projects, in line with Chinese industrial policy, will facilitate the industrial upgrading. Meanwhile, Qingdao will also invest in high-tech industrial projects in Pingdu and Laixi to boost local development.