The success of Shanghai Cooperation Qingdao Summit gives Shandong province an opportunity to send out invitations to the world at the 70th anniversary of the People’s Republic of China. Our journalist learned today at the joint press conference by the Ministry of Commerce and Shandong municipal government that the Qingdao Multinationals Summit will be held from Oct. 19-20, 2019, to demonstrates China’s determination to open up further. The summit will focus on the development of multinationals and their cooperation with China, building a new platform to expand China’s opening-up.

The theme of this Summit includes “Multinationals and China’s New Era”, “Multinationals and New International Economic Order”, “Multinationals and Business Modes Innovation”, “Multinationals and Local Economic Development”; the main events are opening ceremony, parallel summit, multinationals roadshows, activities by host and guest provinces, industry roadshows, city roadshows and supporting exhibitions. The Summit is also going to release the Qingdao Declaration of Multinational Corporation Leaders and Multinational Corporations Investment Report in China for 40 years.

The Ministry of Commerce will also host a closed-door meeting regarding the implementation of Foreign Investment Law to invite opinions from multinationals on details of the Foreign Investment Law and its supporting policies.  

The Summit will not only present to the world the “China Opportunity” of new era, but also the “Shandong Opportunity” to the multinationals. The Summit will set up agendas based on 8 development strategies of Shandong, especially on the 10 key industries that replace old growth drivers with new ones. It will also arrange roadshows for key pilot cities of growth driver replacement, such as Jinan, Qingdao and Yantai, and other cities like Jining and Bingzhou, to show the dynamism of local economy and promote cooperation.

In order to maximize its influence, Shandong province will host 2019 New Growth Drivers Qingdao Fair to show its plans, programs, achievements and cooperation demand of growth drivers conversion, and exhibit new products and technology of large companies home and abroad, of leading companies in the industry and of high-tech companies, building a platform for trade and cooperation.

The Summit has received great attention and positive response from multinationals worldwide. So far, 49 executives from the world’s top 500 companies, 139 executives from leading companies in 26 countries and regions have confirmed their attendance.

“China will never shut its door to the outside world, but only open ever wider.” Vice-minister Qian Keming said that in the current complex and severe external environment, hosting a summit for leaders of multinational corporations shows our determination to promote a new round of opening up, which is conducive to boost our confidence in cooperating with multinational corporations in a mutually beneficial way.  

Since the introduction of reform and opening-up policy, as a major province in the east coast, Shangdong has made great achievements by using foreign investment. As of first 6 months of 2019, 216 of world’s top 500 companies have invested 756 projects in Shandong, promoting industrial clusters such as heavy trucks, cars, construction machinery, shipbuilding and information technology, which have played an important role in industrial upgrading.