The Third Qingdao Multinationals Summit Kicks Off

QINGDAO, China, June 22, 2022 /PRNewswire/ -- On the afternoon of June 19, the Third Qingdao Multinationals Summit, jointly hosted by the Ministry of Commerce and Shandong Provincial People's Government, was unveiled at Qingdao International Conference Center. Chinese State Councilor Wang Yong made a speech and announced the opening of the Summit. He stated that since the reform and opening up, a growing number of multinationals had expanded their footprints in China for investment and collaboration, which enables them to achieve their own development and also promote China's economy and economic globalization. China will further loosen market access to boost fair competition, increasingly intensify the liberalization and facilitation of trade and investment, and develop a market-oriented, law-based, and international business environment.

At the opening ceremony, former Japanese Prime Minister Fukuda Yasuo, former Italian Prime Minister Matteo Renzi, and Deputy Prime Minister of Hungary Mihaly Varga, made video speeches. Li Ganjie, Secretary of the CPC Shandong Provincial Committee, delivered a speech, and Zhou Naixiang, Governor of Shandong Province, presided over the ceremony. At the same time, Lu Zhiyuan, Deputy Secretary of the CPC Shandong Provincial Committee and Secretary of the CPC Qingdao Municipal Committee, attended the ceremony.

During his speech, Li Ganjie announced that, for scientific and technological innovations, multinational companies are welcome to establish global and regional headquarters and R&D centers and collaborate with competitive innovative platforms in Shandong. For industrial upgrading, multinational companies are expected to take Shandong as a central pivot for their global business landscape and boost more open and advantageous cooperation in the industrial chain and supply chain. For green and low-carbon development, multinational companies are encouraged to actively help Shandong develop its low-carbon industries and green energy. For trade exchanges, endeavors will be made to pledge unimpeded international logistics channels and promote the continuous improvement of bilateral trade quality and efficiency. For regional cooperation, Shandong will work with multinational companies to actively explore the emerging markets and constantly extend cooperation in new forms, new models, and new fields.

Sheng Qiuping, Vice Minister of the Ministry of Commerce, mentioned in his speech that multinational companies are direct participants in the domestic circulation and major drivers for the dual circulation development. China is committed to developing a new system of an advanced and open economy, accelerating the opening-up based on related institutions, establishing a quality platform for opening-up, further optimizing the business environment, and improving the supporting services, so as to attract and sustain foreign-funded enterprises with development opportunities. As Shandong is a crucial destination for multinational companies to invest in China, all interested companies are expected to leverage the Summit to conduct extensive exchanges, seize opportunities to invest in Shandong and seek further growth in China, and work together to achieve a new prospect of win-win cooperation.

The Summit, which was held both online and offline, attracted 5,600 participants, including industry leaders from 186 Fortune 500 companies and 290 leading enterprises, diplomatic envoys of other countries to China, experts and scholars from related international organizations and business associations, heads of relevant ministries and commissions of China, and related officials from Shandong. During the Summit, there were 44 events of 14 categories, including meetings, sub-forums, summit dialogues, road shows of multinationals, introduction and marketing of the guest of honor, and project signing ceremonies.

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