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Road show, appreciation meeting for QMS held in Qingdao

from: chinadaily.com.cn date: 2022-09-05

The road show and appreciation meeting for the Qingdao Multinationals Summit (QMS) was held from Sept 1 to 2 in the eastern coastal city of Qingdao, Shandong province.

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The road show and appreciation meeting for the Qingdao Multinationals Summit kicks off in Qingdao on Sept 1. [Photo provided to chinadaily.com.cn]

Government officials and company representatives attended the event.

During his speech, Cui Hongguang, deputy director of the Commerce Department of Shandong province, said that the QMS demonstrated China's determination to expand its opening-up and boosted the confidence of multinational corporations to invest and develop in China.

The third edition of the QMS was held in Qingdao from June 19 to 21. It was the first large-scale national event in China in the first half of 2022. Gathering together senior executives from multinational companies, government officials, economists, and representatives from international organizations, foreign embassies and consulates in China and global business associations, the event was highly praised both at home and abroad.

A total of 99 key cooperation projects from 16 countries and regions were signed during this year's QMS, with a total investment of $15.6 billion and contracted foreign capital of $5.31 billion.

Cui noted that in recent years, the business environment in Shandong has been continuously optimized, becoming a hot destination for multinational companies to invest. In the first half of this year, the actual use of foreign capital in the province reached $12.86 billion, up 14.6 percent year-on-year, ranking third in the country.

French beverage company Danone set up a branch in Qingdao in 2020.

Zou Chunyi, vice-president of external affairs for Danone Greater China, said that the smooth landing and rapid development of Danone in Qingdao are closely related to the excellent local business environment and government support at all levels.

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Multinational companies play a vital role in promoting economic globalization. [Photo provided to chinadaily.com.cn]