PR100405

QINGDAO, China, Oct. 13, 2023 /Xinhua-AsiaNet/--

On October 11, the opening ceremony of the Fourth Qingdao Multinationals Summit

was held, marking the beginning of the "Qingdao Time" for leaders from 416

multinational companies worldwide. This top-level event transcending national

boundaries once again demonstrates China's determination to further open up and

promote mutual benefit and win-win results. It also carries profound

implications and significance for the global economic recovery.

According to data from the Department of Commerce of Shandong Province, the

first three Qingdao Summits collectively witnessed the signing of 195 foreign

investment projects, primarily spanning areas such as high-end equipment

manufacturing, new generation information technology, new energy and materials,

healthcare, modern agriculture, cultural creativity, and the modern ocean

sector. These projects had a total investment value of USD 27.42 billion, with

contracted foreign investment reaching USD 10.33 billion. Currently, there have

been 125 registered foreign investment projects, representing a registration

rate of 64%, and the actual utilization of foreign investment amounts to nearly

USD 3 billion. Building upon the achievements of the previous three Qingdao

Summits, this edition aims to build a more exciting, effective and influential

bridge for cooperation between multinational companies and China. Key focal

points include intensifying efforts to attract and leverage foreign investment,

showcasing new practices for the expansion and development of multinationals in

China, as well as highlighting emerging trends in industrial investment layout.

According to the Information Office of the People's Government of Qingdao, in

addition to the opening ceremony, collective meetings between ministerial and

provincial leaders and important guests, as well as investment promotion-themed

salons, this summit also hosted a series of exchange and promotion activities,

such as multinational symposiums, national ministerial policy closed-door

meetings, economic consulting advisor meetings of the government of Shandong

Province, industry promotion meetings of Shandong Province, multinational

promotion meetings, and informal meetings of host and guest provinces. At the

same time, the summit also featured a "Multinationals and China Thematic

Exhibition", focusing on the cooperation between multinationals and the Chinese

industry in the new era, showcasing the development achievements, advanced

technologies, and cooperation willingness of multinationals in China.

Source: Information Office of the People's Government of Qingdao

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   Caption: Opening Ceremony of the Fourth Qingdao Multinationals Summit

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   Caption: Centralized Signing Ceremony for Key Cooperation Projects