QINGDAO, China, Oct. 11, 2023 /PRNewswire/ -- The opening ceremony of the fourth Qingdao Multinationals Summit was held today in Qingdao, Shandong province. The summit is jointly organized by China's Ministry of Commerce and the Shandong Provincial Government. The event brought together top management executives from 416 companies.

Pedro Manuel Moreno, Deputy Secretary-General of United Nations Conference on Trade and Development, gave a speech on the opening ceremony, he encouraged multinational corporations to firmly grasp the enormous potential brought by China's development and better reap the development dividends in the critical stage of China's transformation.

"With decades of successful experience in the energy industry and the wisdom, expertise, and resources of Shandong Province, we aspire to a strong, strong, and prosperous future "said Muhammed Qahtani, President of Saudi Aramco Downstream.

This summit demonstrates China's confidence and determination in promoting a higher level of opening-up to the outside world, comprehensively showcases opportunities for cooperation between local governments and multinational corporations, and more widely embodies the consensus of jointly building an open world economy.

The summit also organized Multinational Corporation Symposium, Closed Door Meeting, China's Policy Interpretation and Project Promotion Conference on Attracting Foreign Investment and the Yellow River Basin Investment Cooperation Promotion Conference, Shandong Provincial Government Economic Consulting Consultant Conference, Shandong Provincial Industry Promotion Conference, Multinational Corporation Promotion Conference, etc. This year, the organizers have arranged the "Year of Investment in China" special event, and continue to hold the Ministry of Commerce, General Administration of Customs On the basis of the symposium between the China National Intellectual Property Administration and foreign-funded enterprises, one symposium between the State Health Insurance Administration, the State Food and Drug Administration and relevant foreign-funded enterprises was added to strengthen face-to-face exchanges with leaders of multinational companies.

With the further opening-up of the Chinese market, coupled with a more favorable business environment that can be expected to bring more opportunities, companies outside China are welcome to invest, establish a presence or expand an existence presence so that they can benefit from an economy that continues to grow.