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Qingdao Multinationals Summit closes on high note, with over 160 agreements signed 发布日期:2024/9/6 来源:International Daily 打印

QINGDAO -- The fifth Qingdao Multinationals Summit wrapped up in Qingdao City of east China's Shandong Province on Thursday with over 160 investment agreements inked.

The three-day summit saw the signing of a total of 163 investment and trade projects. Among them were 121 investment projects amounting to approximately 13 billion U.S. dollars, and 42 trade projects with a combined contract value of 40.4 billion U.S. dollars.
Under the theme "Multinationals and China," the event brought together leaders from 451 multinational companies representing 37 countries and regions to exchange insights on their experience and strategies in the Chinese market.
Among them were 140 Fortune 500 companies and 311 industry leaders, with a record 99 multinational companies participating in the summit for the first time.
Nearly 100 multinational company leaders also delivered speeches and presentations at the summit, outlining their new strategies for development in China and their investment intentions.
This year's Summit introduced some new activities such as the first-ever investment exchange for multinational companies, the first promotion of zones like the Shanghai Cooperation Organization Demonstration Zone, and the first special session focused on marine innovation talents.
More than 20 provincial-level commerce departments also attended the summit to facilitate business cooperation, showcasing China's strong commitment to opening up to the global business community.
A report released during the summit by the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce indicates that multinationals are active participants in China's development, important supporters of the country's pursuit of high-quality development, and key links in its deep integration into global industrial and supply chains.
Multinational companies have also benefited from increased profit margins, improved cost structures and optimized resource allocation through their operations in China, according to the report.
Data from the Ministry of Commerce shows that 53,766 foreign-invested enterprises were established in China in 2023, up 39.7 percent year on year. And another 31,654 were established from January to July this year, an 11.4 percent year-on-year increase.


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