The first Qingdao Multinationals Summit will be held from Oct 19 to 20 in the eastern coastal city of Qingdao, Shandong province, officials said at a news conference by the Ministry of Commerce on Aug 21.

Jointly organized by the Ministry of Commerce and the Shandong provincial government, the summit will gather leaders from Fortune 500 companies and top industrial groups to discuss how to strengthen cooperation.

The "tailor-made" summit for leaders of multinational corporations is a declaration of a new pattern of all-round opening up, said Qian Keming, vice-minister of commerce.

He said that building a high-level platform for dialogue between transnational corporations and the political and academic circles will further expand understanding, increase mutual trust, and broaden cooperation.

The summit includes a series of activities such as closed-door meetings, parallel forums, multinational corporation road shows, promotion events and exhibitions.

The Chinese government will announce new policies and collect opinions from participating companies during the meetings regarding the implementation of the Foreign Investment Law, customs clearance facilitation, and the protection of intellectual property.

"China will provide more investment opportunities for multinational companies, and create an investment environment that is more stable, fair, transparent, and predictable," said Qian.

A total of 188 senior executives from Fortune 500 companies and top industrial groups from 26 countries and regions have confirmed their participation in the summit, said Ren Airong, vice-governor of Shandong province.

Ren said that the permanent settlement of the summit in Qingdao will bring great opportunities for the city's development. 

At present, Qingdao is speeding up the construction of an open, modern, dynamic, and fashionable international metropolis. The summit will further raise Qingdao's international profile and bring new vitality to Qingdao's development.

The Ministry of Commerce holds a news conference on Aug 21 to detail the arrangement and schedule of the Qingdao Multinationals Summit, which will be held from Oct 19 to 20 in Qingdao. [Photo/cnr.cn]

The urban landscape of Qingdao, East China's Shandong province. [Photo/IC]