QINGDAO -- The 5th Qingdao Multinationals Summit opened in Qingdao City of east China's Shandong Province on Wednesday, continuing its established "Multinational Corporations and China" theme.

The summit gathered more than 550 representatives, 18 of them are global CEOs, the most ever.

Most of the attending CEOs are from the sectors of information technology, biomedicine, new energy, and high-end equipment. Twenty percent of the foreign representatives are attending the summit for the first time.

A series of research reports, including "Multinationals in China: Sharing New Opportunities of Chinese Modernization", were released at the summit.

Since its inception in 2019, the Qingdao Multinationals Summit has served as an important platform for dialogue, exchange and practical cooperation between China and multinational corporations.

For 12 consecutive years, Qingdao has ranked among the most attractive Chinese cities for foreign talents. And over the past four summits, the city secured 49 projects with multinational corporations, totaling 9.85 billion U.S. dollars in investment.