Xie Zhe, vice-president of external affairs at dōTERRA China. [Photo provided to chinadaily.com.cn]

The fifth Qingdao Multinationals Summit will be held from Aug 27 to 29 in Qingdao, Shandong province. In a recent interview with China Daily, Xie Zhe, vice-president of external affairs at dōTERRA China, one of the world's largest companies specializing in aromatherapy and essential oils, emphasized that QMS is a crucial platform for helping multinational companies to better understand China and invest in the country. It also serves as an important window for Shandong to open up to the world and attract investment.

In Xie's view, Shandong has focused on cultivating new drivers for foreign trade in recent years, promoting stable growth in both the quality and quantity of imports and exports, with significant growth in trade with countries involved in the Belt and Road Initiative.

"Shandong continues to optimize its foreign investment structure, with high-tech industries becoming a new engine for attracting foreign capital," he said.

Xie praised the business environment in Shandong, stating that "Shandong continuously advances institutional reforms, creating greater freedom for enterprises, and is committed to fostering a market-oriented, law-based and international business environment."

The attractiveness of the Chinese market lies primarily in its vast consumer base and strong policy support, he said. China is home to the world's largest consumer base, and with the ongoing upgrades in consumption, particularly in health care, elderly care and childcare services, the Chinese market continues to present new opportunities. Second, the Chinese government has introduced a series of measures, such as lowering interest rates, optimizing real estate policies and reducing taxes and fees.

"These measures have ensured that China remains attractive to foreign investment amid global economic changes, while also laying a solid foundation for future economic development," Xie said.