[Photo/China Report]

Talking about the expectations of Qingdao Multinationals Summit, Nicholas Beale, CEO of Sciteb, said, "I think this is a very very wise step for the Chinese government. Of course, it builds good trade relations, but it's also very good for the Chinese economy." 

He believes that the Qingdao Summit will benefit everybody. 

"It benefits the foreign companies working in China. It benefits the Chinese consumers and it benefits the Chinese enterprises. China now has truly world class businesses that do not need any form of protection. They can go out and do wonderful things in China and in the world."