In recent years, Shandong province has introduced 36 intensive policies covering such sectors as foreign investment, market access, equality, rights protection, and daily life to create a world-class business environment.

During the fourth Qingdao Multinationals Summit last year, AstraZeneca announced the commencement of operations for its regional headquarters in Qingdao, with the Qingdao factory becoming a key part of AstraZeneca's global pharmaceutical supply chain.

Wang Lei, executive vice-president of AstraZeneca, said at the summit that AstraZeneca was not only attracted by Shandong's excellent business environment, but also by the province's vast pharmaceutical industry, as well as the talent and technological advantages provided by Shandong's numerous universities and research institutions.

"Shandong's business environment is particularly good and innovative, which is why many Japanese companies choose to invest here," said Ueda Toshihiro, chief representative of AGC Group for China.

"The QMS has become an important window for understanding Shandong's development and experiencing its openness to the world," said Tetsuro Honma, chairman of the Japanese Chamber of Commerce and Industry in China. He expressed high regard for the summit and hopes that it will continue to strengthen multinational companies' confidence in China's reform and opening-up while expanding cooperation with Shandong.

Since its inception in October 2019, the QMS has established a vital platform for communication and exchange between multinational corporations and the Chinese government and local authorities. It has also become a key window for multinational companies to witness the high-quality economic development of Shandong and China. The first four summits collectively saw the signing of 471 foreign investment projects, with a total investment of $56.9 billion.