The 4th Qingdao Multinationals Summit signs $20.6b deals for 194 projects

QINGDAO, China, Oct. 12, 2023 /PRNewswire/ — This is a report from Information Office of the People’s Government of Shandong Province:

Key cooperation projects were signed at the opening ceremony of 4th Qingdao Multinationals Summit
Key cooperation projects were signed at the opening ceremony of 4th Qingdao Multinationals Summit

At the Fourth Qingdao Multinationals Summit held in Qingdao, Shandong province from October 10th to 12th, Shandong reached a number of new cooperation projects with multinational companies, promoting negotiation and signing of 194 foreign investment projects with a total investment of US$20.6 billion.

At the opening ceremony, 24 key cooperation projects were signed, such as the French Suez Group’s Jining reclaimed water desalination and reuse project, the Singapore Trafigura Group’s Shanggang Trafigura International Trade Project, and the China Railway Hong Kong Jinan (starting area) green building center project. The total investment amounted to US$6.05 billion. Some of these contracted projects have a total investment of up to US$1.4 billion.

This summit is co-organized by the Ministry of Commerce and Shandong Province. With the theme of “Multinational Corporations and China“, it focuses on greater efforts to attract and utilize foreign investment, new practices for the development of multinational corporations in China, new trends in industrial investment layout, and new business environment creation. Effectiveness, international cooperation in the digital economy, and green, low-carbon, and high-quality development have been set up as six major topics, and we are committed to making this summit a more exciting, more effective, and more influential communication channel and exchange platform.

During the summit, a series of exchange and promotion activities were held, including symposiums with multinational companies, closed-door meetings, China’s policy explanation and project promotion meeting for attracting foreign investment and the Yellow River Basin Investment Cooperation Promotion Meeting, Shandong Provincial Government Economic Advisory Meeting, and Shandong Province Industry Promotion Meeting, multinational company promotion meetings, guest-provincial talks, etc.

As a supporting event of the fourth Qingdao Multinationals Summit, the “2023 Multinationals and China” themed exhibition organized by Shandong Council for the Promotion of International Trade was also held at the same time. The exhibition focuses on the cooperation between multinational companies and China, focusing on displaying the cutting-edge technologies, advanced products and cooperation results of multinational companies in China. The exhibition area spans 10,000 square meters, and 231 exhibiting companies display more than 1,600 exhibits, covering more than 100 cutting-edge technological achievements in intelligent manufacturing, high-end equipment, and information technology.