China Announces 2nd Summit of Leaders of Multinational Corporations

The Chinese government announced on Wednesday the Second Summit of Leaders of Multinational Corporations, scheduled to take place in Qingdao, Shandong province, from July 15 to 16.

There, according to the Ministry of Commerce of China, issues such as the reshaping of global industrial chains and the relationship between the Chinese market and multinational companies will be addressed.

Also during the summit, a research report on «Multinational Corporations in China: New Patterns That Create New Opportunities» will be published, in which the role of multinationals will be comprehensively reviewed, according to the Chinese government.

Among the largest recipient countries of Foreign Direct Investment (FDI), China displaced the United States from the first position in 2020, registering revenues of 212,476 million dollars, an annual advance of 13.5%, according to data from the Organization for the Economic Cooperation and Development (OECD).

Globally, FDI flows fell 38% in 2020, to $ 846 billion, their lowest level since 2005.

Multinational corporations

In particular, the province decided to jointly host the 2021 Qingdao Summit of Multinational Corporation Leaders to build a platform for dialogue between multinational companies and political and academic circles.

All of them aim to discuss the main issues such as development, cooperation, responsibilities and governance of multinational companies.

«This summit will help build a platform for the dialogue of multinationals with politics and academia on material issues such as development, cooperation, responsibility and governance of multinational companies,» said Vice Minister of Commerce Qian Keming, at a press conference, according to Chinese media.

From the perspective of the Ministry of Commerce, the Chinese government attaches great importance to mutually beneficial cooperation with multinational companies and also attaches importance to listening to the voices of multinational companies.

The continuously optimized «soft» business environment continues to enhance the «hard» force of China’s development, providing stable expectations and significant opportunities for global companies, including multinationals.

The actual use of foreign capital across the country was 999.98 billion yuan, an increase of 6.2% year-on-year, and the scale reached a record high.