Qingdao, one of the first coastal cities to open up, emerges as a prime partner for MNCs. [Photo/Guanhai News]

Qingdao, one of the first coastal cities to open up, has emerged as a prime partner for multinational corporations (MNCs), offering a market-oriented, legal, and international business environment that attracts global investors.

In 1992, Ebara of Japan, a global leader in manufacturing environmental engineering, pump products, and HVAC equipment, established a factory in Qingdao. Due to its successful development, the company decided to launch a new factory project in China. After years of planning and consideration, Ebara's decision to return to Qingdao was reinforced by the city's well-developed infrastructure, convenient transportation, and efficient services.

To support the project's rapid construction and production, the Qingdao Sino-German Ecopark has provided full-process services to the company in various aspects such as project site selection and approvals. The company obtained construction permits from land bidding within just eight working days, ensuring that the project was completed ahead of schedule as planned.

Another beneficiary of Qingdao's favorable business environment is ReSource Pro, a United States-funded company that has grown from a startup with only a few employees to an MNC with nearly 10,000 employees across Asia, Europe, and the Americas in just 21 years. The company has successfully executed strategic projects for over 1,000 insurance companies, authorized underwriters, and other clients, generating an annual revenue of 500 million yuan ($70.23 million) in China alone.

The favorable development environment and abundant opportunities have been attracting more MNCs to partner with Qingdao.

As a key platform for communication between MNCs,  the Chinese government, and local authorities, the Qingdao Multinationals Summit has been held four times.

The summit has created significant development opportunities for the coastal city. According to official data, Qingdao has signed 49 projects with MNCs, amounting to a combined investment of $9.85 billion. Major projects, including those by AstraZeneca, Hexacon, and Hige, have been successfully implemented.

To date, 179 Fortune Global 500 companies have invested in 410 projects in Qingdao, with more MNCs choosing to enter and deepen their engagements with Qingdao.