Qingdao welcomes the world at multinationals summit

By WANG JINHUI| (China Daily)| Updated : 2023-10-10

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The fourth Qingdao Multinationals Summit, an effective and influential platform for investment matchmaking jointly organized by the Ministry of Commerce and Shandong province, is being held in Qingdao from Oct 10-12, aimed at showcasing China's latest achievements and opportunities in economic development and injecting confidence and momentum into the market.

With "Multinationals and China" as its theme, the summit focuses on six main topics: attracting and utilizing foreign investment; new practices of multinationals in China; new trends in industrial investment; creating a new business environment; international cooperation in the digital economy; and green, low-carbon high-quality development.

Shandong sees the summit as a key to expanding high-level opening-up and integrating into the new development pattern. More than 500 guests have confirmed attendance and the total number is expected to exceed 800. They include 316 multinationals, with 21 CEOs from Fortune Global 500 companies and industry-leading enterprises; 30 vice-presidents, 117 CEOs and 96 vice-presidents from China; 216 multinationals from 33 countries and regions, accounting for nearly 60 percent of the total; 92 new multinationals and 135 new guests.

In addition to an opening ceremony, guest meetings and investment promotion salons, the summit is to host an array of activities including a corporate symposium to better understand multinationals' operations in China; four closed-door policy meetings to interpret relevant national policies and solicit opinions and suggestions from multinationals; a conference on China's policies to attract foreign investment, serve the major national strategy of the Yellow River and focus on the theme of "innovative development and win-win cooperation"; an economic consulting advisory meeting to hear opinions and suggestions on accelerating green, low-carbon and high-quality development, promoting high-level opening-up and deepening cooperation with multinationals; an industry promotion conference on Shandong's digital economy, high-end equipment manufacturing, new energy and new materials; and a promotion conference for multinationals.

There will also be a themed exhibition on multinationals and China, highlighting their cooperation with China's industries in the new era and showcasing their achievements, advanced technologies and cooperation intentions.

Over the years, the Qingdao Multinationals Summit has played a pivotal role in demonstrating China's firm determination to open up to the world, and has brought significant opportunities to the permanent host city for its overall development.

Through hosting the first three sessions, Qingdao has attracted nearly $4.3 billion in investment for 18 key projects and 394 projects from 177 Fortune Global 500 companies, injecting vitality into its economic and social development.

This year marks the beginning of comprehensively implementing the spirit of the 20th National Congress of the Communist Party of China, and the Ministry of Commerce is organizing a series of "Invest in China Year" activities for the first time. The fourth Qingdao Multinationals Summit will also help multinational corporations better understand and invest in China.

Qingdao has made great strides in providing excellent services and guarantees to welcome guests from all over the world, while promoting cooperation to achieve win-win results. It also plans to hold more innovative events during the summit, including a city promotion meeting with the theme of "working together with multinationals to deepen industrial cooperation" — and the much-anticipated Qingdao Beer Night banquet.

This year, Qingdao has also formulated the Global Investment Attraction Action Plan and the Manufacturing Industry Multinational Corporation Investment Attraction Action Plan with various incentive policies aimed at attracting multinationals in the manufacturing industry.