China has made great efforts in air pollution control since 2013. However, there is a lack of evaluation of environmental, health and economic co-benefits associated with the national and local air pollution control measures at a city level. We analyzed local air pollution control policies and implementation in Jinan, one of the most heavily air-polluted cities in China between 2013 and 2017. We assessed the changes in exhaust emissions, air quality, mortality and morbidity of associated specific-diseases, and related economic benefits. We also projected the future scenarios of PM2.5 concentration dropped to 15 μg/m3. There were significant decreases in exhaust emissions of SO2 and NOx in Jinan during the study period. Annual reductions in ambient air pollution were 72.6% for SO2, 43.1% for PM2.5, and 34.2% for PM10. A total of 2,317 (95%CI: 1,533-2,842) premature deaths and 15,822 (95%CI: 8,734-23,990) related morbidity cases had been avoided in 2017, leading to a total of US$ 317.7 million (95%CI: 227.5-458.1) in economic benefits. Decreasing PM2.5 concentrations to 15 μg/m3 would result in reductions of 70% in total PM2.5-related non-accidental mortality and 95% in total PM2.5-related morbidity, which translates into US$ 1,289.5 million (95%CI: 825.8-1,673.6) in economic benefits. The national and local air pollution control measures have brought significant environmental, health and economic benefits to a previously heavy polluted Chinese city.