This paper presents a high-flexibility and low-cost transceiver (TRX) in 65-nm CMOS process. The TRX is based on local-oscillator phase-shifting architecture. To enhance the transceiver gain, bandwidth, efficiency, noise performance, and achieve ultra-low amplitude and phase errors without any calibration, a variety of innovative techniques are introduced in this work. The proposed transceiver simultaneously implements broadband RF/LO/IF while maintaining ultra-low gain and phase errors without any calibration. Such a system with only one chip can meet the requirements of IF, LO and RF frequency combinations of different scenarios, which is suitable for high data-rate and low cost 5G applications.