QINGDAO -- The 2024 Qingdao Multinationals Summit will draw nearly 500 representatives of multinational companies, with 20 percent of them being new participants, said Vice Governor Song Junji of Shandong Province at a press conference held in Beijing on Friday.

The fifth edition of the Qingdao summit is scheduled for August 27 to 29 in the coastal city of eastern Chinese province, and everything for the summit is ready, Song said.

"Up to now, 473 guests from multinational companies have confirmed their participation, including 370 overseas and 103 domestic guests. Among them are 95 new partners who did not attend the previous four summits, accounting for 20 percent of the total. In terms of their positions, 18 are their companies' global presidents, 58 vice presidents, 142 regional chiefs for China, and 152 regional deputy chiefs for China, making the number of global presidents a record high of all editions. In terms of fields, companies in new quality productive forces have actively applied for participation, involving industries of the new generation of information technology, biomedicine, new energy, and high-end equipment," said Song.

The summit will introduce colorful new initiatives to boost cooperation and exchanges, according to Song.

"We have planned a meeting for investment, exchange, and collaboration among multinational companies for the first time, and will sponsor the first themed promotions for the Shanghai Cooperation Organization demonstration zone and other function zones. We also arrange the first forum dedicated to empowering high-quality development through new quality productive force, and the first promotional event for innovation talents in the marine sector. All these will set up an even broader platform for exchanges and cooperation," said Song.

Since its debut in 2019, the summit has been serving as an important platform for multinational companies to enhance cooperation with China, share their development experience and link resources with other multinationals.