Entrepreneurs, experts and scholars from home and abroad attend the salon on Oct 19 on how to promote the city's opening-up. [Photo provided to chinadaily.com.cn]

The coastal city of Weihai hosted its city roadshow on Oct 19 during the 2019 Qingdao Multinationals Summit, looking to enhance further multinational cooperation.  

Approximately 300 business giants, government officials and heads from Fortune 500 companies and multinationals from across the world attended the event. The roadshow introduced the city's advantages in starting up businesses and developing foreign trade.

Yu Guo'an, deputy governor of Shandong, spoke highly of the coastal city's potential in opening its economy in his speech and said the city expects to attract more multinational companies to set up operations.

Wang Luming, Party chief of Weihai, promoted the city's business environment to guests from around the world. Located at the easternmost end of the Shandong Peninsula, Weihai boasts perfect infrastructure, a solid industrial foundation and great opening-up potential.

From January to August, 182 foreign-funded projects were set up in the city, with a year-on-year growth of 23 percent. Its actual use of foreign investment hit $645 million with a year-on-year growth of 11.1 percent, ranking fourth in the province.

Park Jin-woong, consul general of South Korea, stressed the vital role Weihai played in promoting foreign trade between China and South Korea. With the rapid development of e-commerce, the port city of Inchon in South Korea will deepen cooperative ties with Weihai port. He said he hopes that the two sides will strengthen mutual cooperation and achieve win-win development.

A salon, which invited entrepreneurs, experts and scholars at home and abroad was also held , having a discussion on how to cultivate high-end industry clusters, optimize the business environment and promote opening-up.