QINGDAO -- The fourth Qingdao Multinationals Summit opened on Wednesday in Qingdao, a seaside city in eastern China's Shandong Province, gathering representatives from more than 400 multinational companies to discuss ways to sustain mutually beneficial cooperation.

At the summit, Chinese government officials publicly reaffirmed their commitment to openness and inclusiveness for multinational corporations.

"This year marks the 45th anniversary of China's reform and opening up. China will persist in promoting high-level opening up to the world, always upholding the spirit of openness, inclusiveness, and win-win cooperation with multinational companies. We'll promote Chinese-style modernization with high-quality development, and provide new opportunities for cooperation with other countries," said Hao Mingjin, vice chairman of the Standing Committee of the National People's Congress.

Chinese government officials also stressed the importance of reducing barriers to foreign investment, enhancing the business environment, making sure multinational corporations benefit from preferential policies, and establishing effective communication channels to better support the development of multinationals in China.

Such policies have been praised by representatives from multinational companies.

"The government has done a lot over the last years, in terms of opening up, creating transparency, protecting intellectual property so I think there's a lot that actually happened and for us as multinational companies, we obviously benefit from it," said Daniel Wussow, senior vice president of BASF Mobile Emissions Catalysts.

The promotion of green, low-carbon and high-quality development was another hot topic among participants, who believe that multinational corporations should play a role in promoting sustainable development across the world.

They emphasized the importance of seizing opportunities for green development and research in China, as well as the use of sustainable technologies.