JINAN, 29 August 2024 (TDI): The fifth Qingdao Multinationals Summit started on Wednesday in Qingdao, east China’s Shandong Province, drawing more than 500 attendees from over 450 multinational corporations to exchange insights on their experience and strategies in the Chinese market.
The new quality productive forces in China are on the rise, and we believe that multinational companies must actively engage and contribute to this growth to truly benefit, said Leon Wang, executive vice president, international and China president of British biopharmaceutical company AstraZeneca.
We are determined to enhancing our research and development in China and ensuring deeper cooperation to help bring China’s innovations to the world stage, he added.
AstraZeneca has announced more investment in its Qingdao production and supply base, bringing the total to $750 million.
“AstraZeneca is in sync with reform and opening-up policy in China, feeling the vitality of the market, the resilience of manufacturing and the nonstop improvement of its business environment. These factors bolster its confidence and bring opportunities, Wang said, stressing that the company has invested over $1.2 billion in China in the past two years.
Many entrepreneurs expressed their resolve to further expand investment in the Chinese market during the event, indicating an eagerness to collaborate with Chinese partners to realize a shared and brighter future.
Kuniharu Nakamura, a special advisor at Sumitomo Corporation, said that increasing global instability and economic uncertainty have highlighted the significance of extending dialogue and promoting mutual understanding, which the summit aims to facilitate.
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“China’s economic transformation and notable achievements are influencing the world. We see the long-term growth potential of this country, which is why we continue to increase our investments,” said Yasser M. Mufti, executive vice president of Saudi Aramco.
