On June 19, a humanoid robot posed a question in the Guest Interview Channel for Multinationals at the Sixth Qingdao Multinationals Summit (QMS). On that day, the Sixth QMS — co-hosted by the Shandong Provincial People's Government and the Ministry of Commerce of the People's Republic of China — kicked off in Qingdao, Shandong, with 570 guests from 43 countries and regions in attendance. Themed "Multinationals and China: Connecting the World for Win-Win Cooperation", this year's QMS served as a platform for policy dialogue, industrial matchmaking, and project cooperation among multinationals. Photo from Xinhua News Agency
On the shore of the Yellow Sea, the Sixth QMS, scheduled from June 18 to 20, welcomed a total of 570 executives from multinationals across 43 countries and regions. They discussed new opportunities in China's high-level opening up and expressed their confidence in deepening their commitment to the Chinese market through concrete actions.
This year's QMS sent a clear message: The scale potential of the Chinese market, the momentum for industrial upgrading, and the continuously improving business environment are attracting global capital, and emerging forces are actively establishing a presence.
Optimism about the potential of the Chinese market
The Sixth QMS featured notable new faces. Data shows that over 100 companies participated for the first time, with 131 new faces among the guests, accounting for 23% of the total. Companies from nine countries — including Vietnam and Egypt — made their debut, and multinationals from emerging markets represented over 50% of the participating companies, which demonstrated China's appeal to capital from new emerging markets worldwide.
These new forces brought positive investment signals. Osama Kokandy, Director of the Saudi-Southeast Asia Business Council — a newcomer to the event — stated that they came to explore opportunities for building bridges in business cooperation, with a focus on AI and high-end manufacturing.
According to Pablo Rodríguez-González, General Manager at IBARMIA China, a high-end machine tool maker, the Chinese market —contributing 20% to 25% of the company's global revenue — is crucial for its development. He highlighted the company's optimism about the market's potential, noting that they have recently opened a new exhibition hall in Shanghai and plan to expand the production capacity of their plant in China.
China's vast consumer market, ever-evolving demand, and significant opportunities for cooperation continue to provide fertile ground for multinationals. Belinda Tanoto, RGE Managing Director and Member of RGE's Executive Management Board, stated that China remains one of the largest markets in the world, and the company plans to increase its investments with a focus on development.
Expand into new investment avenues
China's rapidly developing new industries and technologies, especially the vitality shown in the realm of new quality productive forces, have strongly attracted global investment. Foreign capital is increasingly moving toward high-value-added, high-tech, green, low-carbon, and emerging sectors.
The dedicated forum on low-altitude economy at this year's QMS was fully attended, with representatives of multiple multinationals expressing a strong desire to cooperate with Chinese companies.
Besides the low-altitude economy, other key areas attracting multinational investments included AI, semiconductors, new energy, and humanoid robots.
Charles Compson, Chief Commercial Officer of Almatis in Germany, shared that the company is laying the foundation for a new alumina calcination plant, which marks its fourth major investment in China, and that the goal is to meet the surging demand in the semiconductor and electric vehicle battery sectors.
Bekaert Group in Belgium, which has invested over 1.5 billion euros in China, has shifted its strategic focus from traditional business to renewable energy and green building solutions. Kurt Van Rysselberge, Head of Bekaert China, said in an interview with a reporter from Shanghai Securities News that China is making continued efforts to fulfill the dual carbon goals, bringing huge opportunities for green technology companies like Bekaert.
The report Multinational Corporations in China: Investing in the Future for Win-Win Development, released by the Chinese Academy of International Trade and Economic Cooperation at the Sixth QMS, confirms this trend: Foreign investment in manufacturing has shifted toward high-tech sectors such as pharmaceutical manufacturing, electronics, and telecommunications equipment manufacturing, while the proportion of foreign capital to business services and scientific research & technical services has increased significantly.
Continued release of opening up dividends
High-level opening up was a key buzzword at the Sixth QMS. Numerous foreign executives emphasized that China's high-level opening up is the driving force behind their deepening operations in the country.
CJ Group, one of the first ROK-invested Fortune Global 500 companies to invest in China, has been operating in Qingdao for over three decades with 13 investment increases, which the company's head attributes to China's exceptional business environment.
Liu Xiaoling, Head of Greater China, Tyson Foods, another Fortune Global 500 company, stated that China's ongoing improvements in the business environment have boosted their confidence in sustained and stable development in the Chinese market.
China is steadfastly and powerfully expanding its institutional opening up. The country has consistently streamlined its negative list for foreign investment access, while rolling out a series of supportive policies to foster business environment innovation and green, low-carbon development.
As Yoon Doson, Vice President of CJ Group and CEO of CJ China, remarked at the Sixth QMS that against the backdrop of an increasingly complex and volatile global economic landscape, the sustained investment expansion by multinational giants in China serves as a powerful testament to global confidence in the country's growth potential.
