The 2nd Qingdao Multinationals Summit builds new cooperation platform online and offline

QINGDAO, China, July 20, 2021 /PRNewswire/ -- The two-day Qingdao Multinationals Summit concluded successfully on July 16. The Ministry of Commerce and the People's Government of Shandong Province jointly held a press conference to summarize the highlights of the event.

Compared with the Summit's first edition, this year's event proved to be quite a bit bigger in scope, attracting 390 Fortune Global 500 companies and 517 leaders in their respective industries from more than 30 countries, with the result that cooperation agreements encompassing 96 projects calling for a total investment of US$11.85 billion were signed. The projects cover modern and efficient agriculture, medical and health care equipment and services, renewable energies and new materials, high-end equipment manufacturing, industrial park development and modern services as well as food manufacturing, food logistics and IoT-based food technologies.

Participants engaged in in-depth exchanges on such hot topics as upholding multilateralism, expanding into neighboring APAC markets via the recently-signed Regional Comprehensive Economic Partnership (RCEP) free trade agreement, and achieving carbon peak and carbon neutralization goals. Some Fortune Global 500 companies unveiled new technologies and products through roadshows, articulating on the new directions that they envision their respective industries taking. The Summit has become a high-end platform for learning about and developing a critical eye in terms of new trends in the transnational investment arena while gathering new ideas for and reaching new consensus on transnational investments.

The 2021 New Growth Divers Fair Qingdao, an event held concurrently with the Summit, featured 1,147 online and offline exhibitors, 4.3 times the number present at the Summit's first edition. They exhibited advanced technologies and high-end equipment, including intelligent pension systems, ultra-high power intelligent laser cutting equipment, a high reliability 5G private network for the mining sector, and high-end hydrogen-powered tractors.

Some 300 companies participated in the 119 roadshows and promotional activities that took place during the fair, resulting in more than 60 letters of intent being signed. The fair provided a display platform and B2B match-making channel for companies, which not only enabled multinational firms from the four corners of the globe to gain a better understanding of Shandong Province and its many advantages as an entry point into the Chinese market, but also helped local companies accelerate their forays into foreign markets by having access to a platform where they could seek out likeminded overseas partners.

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