The 3rd Qingdao Multinationals Summit to be held in June, China continues to attract FDI
Updated 22:32, 08-Jun-2022

The 3rd Qingdao Multinationals Summit, co-hosted by the Ministry of Commerce (MOFCOM) and Shandong Province, will be held in Qingdao on June 20 and 21, 2022, with the opening ceremony on the evening of June 19.

The Summit will continue to focus on the cooperation between multinational companies and China, and look at further developing opportunities for multinationals in China, said the Chinese Vice Commerce Minister Qian Keming at a news briefing hosted by MOFCOM Wednesday.

"The meeting declares China's determination to promote a higher level of opening up, share development opportunities with multinational companies, achieve mutual benefit and win-win results, and jointly promote global economic recovery," said Qian.

The summit will combine offline and online channels, with around 800 guests attending the event on site. 35 activities in 14 categories will take place at the summit, including the opening ceremony, closed door meetings, sub-forums, summit dialogues, theme salons, promotion of multinational companies, promotion of guest provinces, promotion of cities, signing ceremony of projects, organizing committee activities, economic advisory conference of Shandong province, and supporting exhibitions.

Even though the COVID-19 pandemic, supply chain disruptions and global energy shock has posed challenges to the global economy, Qian said China's capacity for attracting foreign direct investment has witnessed a stable increase.

China's actual use of foreign capital surged by 20.5 percent on a yearly basis to 478.61 billion yuan ($71.62 billion) in the first four months of this year, the ministry said.

The summit aims to establish a high-end platform for dialogue between multinational companies and political and academic circles amid the country's drive to promote high quality opening up and build a community with a shared future for humanity.

Last year, representatives of 390 Fortune 500 companies and 517 industry leaders attended the event online and offline, which attracted more than 10,000 guests.

The first Qingdao Multinationals Summit was held in October 2019, with a total of 115 Fortune 500 companies and 284 industry leaders attending.

(Cover photo: the city view of Qingdao. /CFP)

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