Summit heightens confidence among overseas firms

A lawmaker reiterated China's strong determination to continue opening up and provide a better environment to attract foreign investment at an ongoing high-standard event in Qingdao, Shandong province.

Hao Mingjin, vice-chairman of the Standing Committee of the 14th National People's Congress, China's top legislature, said, "China will continue to advance a high-standard opening-up policy, consistently providing foreign firms with more investment cooperation opportunities, thus creating a broader development space, establishing more 'green' growth points and fostering a better investment environment."

Speaking at the 2023 Qingdao Multinationals Summit, which is being held from Tuesday to Thursday, Hao urged foreign enterprises to further raise their confidence, deeply participate in the Chinese market, share opportunities brought by China's high-quality development and high-standard opening-up, and grow together with the Chinese economy.

The sentiments were positively responded to by delegates from foreign firms.

"China remains an attractive destination for foreign investment, and one example is the influx of businesses and capital into the country," Pedro Manuel Moreno, deputy secretary-general of the United Nations Conference on Trade and Development, told China Daily.

He suggested China should particularly promote two sectors — the services sector and high-value industries like information technology and finance.

"China is rapidly shifting toward a service-based economy, and these sectors have become critical engines of growth, not only in China but also in other countries."

Leon Wang, executive vice-president of international and China unit president of the United Kingdom-based pharmaceutical company AstraZeneca, expressed his willingness to further cooperate with China and shared his confidence in China's market performance, manufacturing and technological development during an interview with China Daily.

Kevin Ray Meusch, general manager of China and CIS regions for Valmont, a global leader in providing innovative solutions for infrastructure, irrigation and coatings, said the firm has been investing in China for 15 years and its project in Shandong has seen success.

"We would like to see more growth in domestic sales before we start further expansion. Valmont has regional factories around the world and the China base is key to supporting our business model," Meusch told China Daily.

As an effective and influential platform for investment matchmaking jointly organized by the Ministry of Commerce and Shandong province, the three-day summit aims to showcase China's latest achievements and opportunities in economic development and inject confidence and momentum into the market.