A senior executive of a foreign-funded company based in Qingdao, Shandong province is looking forward to the upcoming Qingdao Multinationals Summit, and said that the event shows China's firm determination on opening-up and provides a platform for exchanges and cooperation among multinationals.

The third Qingdao Multinationals Summit will be held in Qingdao from June 20 to 21, the Ministry of Commerce announced on June 8. Approved by the State Council, the event, which is co-hosted by the Ministry of Commerce and the Shandong provincial government, will be held both online and offline.

Jiang Xianping, general manager of the SSB Wind Energy Technology (Qingdao) Co, expects participants at the summit to have an in-depth discussion on the global supply chain.

"Currently, the global supply chain is disturbed by the COVID-19 pandemic and some countries' sanctions", said Jiang in a media interview on June 15, adding that he hoped constructive ideas to reshape the global supply chain will be heard during the summit.

"China has a pivotal position in the global supply chain and is playing a significant role in stabilizing the world economy," Jiang said.

He believes that most foreign-funded companies are expecting that the role be enhanced to benefit worldwide business.

The SSB Wind Energy Technology (Qingdao) Co is a subsidiary of German-based Nidec SSB Wind Systems. Founded in 2005, the company is located in Qingdao's Laoshan district with its specialty on wind turbine.

As a pioneer in wind energy, Nidec SSB Wind Systems already has decades of experience with electric pitch systems, according to the company's official website.

Jiang, who is also general manager of the SSB Asia Pacific, expressed that the company was engaged in processing with supplied materials only in Qingdao at first, and now it has already localized the supply chain, manufacturing and designing throughout China. The company has developed a capacity of manufacturing some 6,000 sets of wind turbines annually and its market share is estimated to take up 30 percent in China.

Jiang attributed the company's growth to China's good business environment and unswerving opening-up policy, and emphasized that measures including cutting taxes and fees have been introduced in the country to fight headwinds caused by the pandemic, and have provided a helping hand for business entities.

Now the SSB has established manufacturing and design facilities in Qingdao and two sales offices respectively in Beijing and Shanghai. On top of that, the company has a sales office in South Korea.

"Qingdao has its unique geographical advantages with convenient transportation, a good business environment, sound scientific resources and a complete industrial chain," Jiang said.

The coastal city has a deep connection with Germany and is well-known in the European country, which is one of the reasons for SSB to establish its China's headquarter in the city, he added.

An employee assembles a product in a SSB Wind Energy Technology (Qingdao) Co workshop on June 15. [Photo by Hu Qing/chinadaily.com.cn]