Summit of multinationals to promote greater openness

Containers carrying goods for export are seen at the port of Qingdao, east China’s Shandong province, Oct 19, 2018. [Photo/VCG]

The third Qingdao Multinational Summit, to be held on Monday and Tuesday, will continue to demonstrate China’s determination to open up and bring more business opportunities to the outside world with its growth, government officials and officials said. business leaders.

The event, to be held in Qingdao, east China’s Shandong Province, will focus on six topics, including global industrial and supply chains, implementation of the Comprehensive Economic Partnership Agreement regional and green and low-carbon transformation, according to the Ministry of Commerce. and the Shandong Provincial Government.

The summit will declare China’s determination to promote a higher level of opening-up, share development opportunities with multinational enterprises, achieve mutual benefits and win-win results, and jointly promote global economic recovery, said Qian Keming, vice minister of commerce. It is in line with President Xi Jinping’s economic thoughts on building a unified, open, competitive and orderly market system, where all businesses enjoy equal status before the law and have equal market opportunities.

A total of 313 foreign multinational enterprises from 31 countries and regions have registered for the summit’s offline events so far, 46 more than the previous edition in terms of attendees.

More than 3,000 guests from foreign companies will attend the online meetings. The opening ceremony of the summit will take place on Sunday evening.

After the entry into force of the RCEP pact, the level of openness of the Chinese market has further improved, the entry threshold for foreign investment has also been lowered and its business environment further optimized. This provides more favorable conditions for global companies to expand their presence in the country, said Robert Aspell, president for Asia-Pacific at Cargill Inc, a US-based agricultural conglomerate.

As open trade creates growth opportunities for the global economy, Mr. Aspell said the group will continue to work with its partners to call for and promote the sustainable development of global trade through opportunities and platforms such as than the Qingdao Multinational Summit.

In addition to the commissioning last November of a crushing and refining plant in Rizhao, Shandong province, the American company signed a new project in February focusing on aquatic animal nutrition products in Binzhou, same province.

“Although China faces short-term challenges, we believe the country will remain an attractive market, a superior industrial cluster and an increasingly effective innovation hub for most multinational companies,” Denis said. Depoux, global managing director of the consulting firm Roland Berger. .

The Chinese market has more and more unique characteristics in consumption patterns, domestic technology and business model evolution, which stand out from other markets, calling for the localization of the business model. Therefore, the engagement and business models of multinational enterprises should evolve accordingly to better participate in China’s future development, he added.

Amid global economic uncertainty, China’s actual use of foreign capital jumped 17.3 percent year-on-year to 564.2 billion yuan ($84.07 billion) in the first five months of the year, according to the latest data published by the Ministry of Commerce. .

Zeng Zanrong, vice governor of Shandong, said 35 activities in 14 categories will be held at the upcoming summit, including closed-door meetings, sub-forums, summit dialogues, theme fairs, and business promotion activities. Multi-national companies.

Ding Yuan Yuan and Liu Chuan in Wuxi contributed to this story.