A news conference is held by the State Council Information Office on Aug 16 to announce arrangements of the fifth Qingdao Multinationals Summit. [Photo by Liu Jian/scio.gov.cn]

As Qingdao, a coastal city in East China's Shandong province, celebrates the 40th anniversary of its designation as part of China's first group of coastal cities to open to the world, it is set to host the fifth edition of the Qingdao Multinationals Summit from Aug 27-29, according to a news conference held by the State Council Information Office on Aug 16. 

The Qingdao Multinationals Summit has successfully facilitated international collaboration over the past four editions, resulting in 49 projects with a total investment of $9.85 billion. Notable projects launched include those by AstraZeneca, Hexagon, and CJ Group, with increased investments and expanded production by foreign-funded enterprises such as Yihai Kerry and Bekaert.

This year's summit promises an expanded scale and elevated profile. In total, 473 multinational corporate guests have confirmed their attendance, with 370 international guests and 103 domestic ones. Among them, 95 are first-time attendees, accounting for 20 percent of the total. The summit will feature the highest number of global CEOs to date and attract substantial interest from emerging sectors such as new-generation information technology, biomedicine, new energy, and high-end equipment.

In preparation for the summit, Qingdao has mobilized a team of multilingual volunteers and professional staff to ensure top-tier international services and a welcoming experience for all attendees.

The city's strategic location, bolstered by national-level open platforms like the China-Shanghai Cooperation Organization Local Economic and Trade Cooperation Demonstration Area and the Qingdao Area of China (Shandong) Pilot Free Trade Zone, provides an excellent environment for the growth of multinational businesses.

To further expand its openness, Qingdao will leverage the summit to launch a series of high-impact projects, focusing on marine strategy, technological innovation, and advanced productivity development. The city will also host promotion and exchange events to highlight its achievements and future opportunities, striving to attract further multinational partnerships.

As Qingdao gears up for this landmark event, it presents multinational companies not just with a timely investment opportunity but also a chance to forge mutually beneficial partnerships. The summit will serve as a key platform for deepening global engagement and enhancing Qingdao's position in the international business landscape.