Qingdao municipal government unveiled the plan to build the city into an international trade center this year in a bid to speed up transformation of the regional foreign trade, according to the recent governmental conference on business.

In 2011, the city's exports and imports ranked the fourth place among Chinese major cities to hit US$ 71.26 billion, up 27.2 percent from a year before.

Qingdao's vice mayor Yao Jian said the coastal city is blessed with unique advantages to become an international trade center due to its geographic location in northeast Asia.

Yao said the city's profile as an international trade center will help attract world advantageous elements to Qingdao and boost a rapid growth in local logistics, warehousing, finance, exhibitions and businesses as well.