The opening ceremony of the fourth Qingdao Multinationals Summit takes place on Oct 11 and sees the signing of key cooperation projects. [Photo provided to chinadaily.com.cn]

The opening ceremony of the fourth Qingdao Multinationals Summit held on Oct 11 in Qingdao, Shandong province, brought together top executives, industry leaders, renowned experts, and distinguished scholars from around the world to discuss strategies for global economic growth and international business.

The ceremony not only marked the inception of a series of new cooperation agreements between Shandong and multinationals, but also witnessed the signing of 194 foreign investment project agreements, totaling $20.6 billion in investment.

During the summit, titled "Multinationals and China", the attendees shared their insights into the summit’s main topics including attracting and utilizing foreign investment, new practices among multinationals in China, new trends in industrial investment, creating a new business environment, international cooperation in the digital economy, and green, low-carbon high-quality development.

In addition to the opening ceremony, the summit will host an array of activities including symposiums, closed-door meetings, policy explanations, and project promotions. The "Multinationals and China" exhibition is also being held in the city, showcasing the cooperation between multinational companies and Chinese industries and displaying their achievements and advanced technologies.

The Qingdao Multinationals Summit has been held three times and played a pivotal role in demonstrating China's firm determination to open up to the world. It is also an important platform for Shandong to attract investment, especially foreign investment. During the past three editions, the host city of Qingdao has attracted nearly $4.3 billion in investment for 18 key projects and 394 projects from 177 Fortune Global 500 companies.