Xinhua News Agency, Beijing, August 21, according to the Ministry of Commerce, the first Qingdao Multinationals Summit will be held from Oct. 19-20, 2019, in Qingdao, Shandong province. So far, some 188 executives of overseas enterprises have confirmed their participation in the summit.

Qian Keming, vice minister of Commerce said on the press conference that the Summit is to implement the new round of opening-up policy made by the CPC central committee and the State Council. Hosting the summit which is “tailor-made” for the multinationals in this complex and severe external environment, demonstrates China’s determination to open up further, and will also build a new platform to expand our opening-up.

The vice minister said the theme of this Summit will focusing on multinationals and China’s new era, multinationals and new international economic order, multinationals and business mode innovation, multinationals and local economic development. The Ministry of Commerce will also host a closed-door meeting with participating multinational companies on the regulation and implementation of the Foreign Investment Law. 

The summit is welcomed warmly by multinationals around the world. According to Ren Airong, deputy governor of Shandong province, 188 executives of international companies from 26 countries and regions have confirmed their participation in the summit, including 49 executives from the Fortune Global 500. 53 Chinese domestic multinationals will also attend this meeting. There are still a number of multinationals whose attending officials are yet to confirm.

According the press conference, about 490 of world's top 500 companies have invested in China. Meanwhile, many Chinese enterprises have also accelerated their pace in internationalization. The number of Chinese companies listed in the fortune 500 has been increasing continuously with 11 companies in 2001, 129 companies in 2019.