The 2nd “Qingdao Multinationals Summit” opens

A total of 306 foreign Fortune 500 companies and 517 global industry leaders take part in the event online. Of the Fortune 500 companies, 125 foreign companies with a total of 378 representatives are taking part in the event in traditional face-to-face mode - including 24 global vice presidents, 70 heads of China business and 100 vice presidents for China business. The same applies to 33 domestic Fortune 500 companies, which are represented by 14 Global Presidents, among others. Of the global industry leaders, 142 foreign and 120 Chinese companies are on site in offline mode. They are represented by a total of 198 Vice Presidents or even higher-ranking representatives.

In addition, 5 international organizations and 20 domestic and foreign trade associations, as well as ambassadors from 4 countries and envoys from 14 countries, also take part in the conference.

The second edition follows the theme of the first summit (“Multinational Corporations and China”) and deals with the role and opportunities of multinational corporations in view of China's new development model of the dual cycle - consisting of a national and an international cycle. Questions about the transformation and development of global value chains and industrial supply chains in the post-pandemic period are also in focus.

At the opening ceremony, Enrique Lores (CEO of HP), son Kyung-shik (Chairman of the CJ Group from South Korea), Fabrice Fourcade (Vice President and China Representative of EDF) and many other representatives from the world's top 500 companies hybrid "online-offline" event, the cooperation of their respective companies with China and the resulting successes. They expressed their hope to be able to deepen their cooperation with China even further and to integrate themselves into the dual cycle, so to promote mutual development.

The Inspur Group is China's leading cloud computing and big data service provider. Vice President Xiao Xue said at the conference that China's economic development requires the strong participation of multinational companies. This is not just about financial investments, but also about advanced management concepts, technical skills and service levels. Multinational companies and Chinese local companies are not in a purely competitive relationship with one another. Instead, they would pursue complementary development alongside market competition.

Zhang Qingwei, deputy general secretary of the Qingdao summit, also emphasized that multinational companies are an important pillar in establishing the new development pattern, which connects China's national cycle with the international cycles.

This second summit will further deepen exchanges and cooperation between China and multinationals and promote China's wider, wider and deeper opening.

The two-day summit is hosted by the Ministry of Commerce and the Shandong provincial government. It is intended to create a platform for in-depth exchange and cooperation between multinational companies and China. To this end, the focus is on a total of 8 topics, including China's goal of reaching the peak of its carbon emissions by 2030 or the development opportunities for multinational companies in China. A research report entitled "Multinational Corporations in China: The New Pattern Creates New Opportunities" will also be published.

As one of the first open coastal cities in China, Qingdao has always been at the forefront of reform and opening up and is home to a large number of well-known national brands such as Haier, Hisense or the Tsingtao brewery. The city has long been a center of investment by multinational companies: a total of 166 Fortune 500 companies, including Panasonic, Samsung and Airbus, have invested and settled in Qingdao.

Press contact:

Contact person: Zhu Yiling
Phone: 0086-532-85911619

Original content from: City of Qingdao, transmitted by news aktuell

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