Qingdao Multinationals Summit closes on high note, with over 160 agreements signed

The fifth Qingdao Multinationals Summit wrapped up in Qingdao City of east China's Shandong Province on Thursday with over 160 investment agreements inked.

The three-day summit saw the signing of a total of 163 investment and trade projects. Among them were 121 investment projects amounting to approximately 13 billion U.S. dollars, and 42 trade projects with a combined contract value of 40.4 billion U.S. dollars.

Under the theme "Multinationals and China," the event brought together leaders from 451 multinational companies representing 37 countries and regions to exchange insights on their experience and strategies in the Chinese market.

Among them were 140 Fortune 500 companies and 311 industry leaders, with a record 99 multinational companies participating in the summit for the first time.

Nearly 100 multinational company leaders also delivered speeches and presentations at the summit, outlining their new strategies for development in China and their investment intentions.

This year's Summit introduced some new activities such as the first-ever investment exchange for multinational companies, the first promotion of zones like the Shanghai Cooperation Organization Demonstration Zone, and the first special session focused on marine innovation talents.

More than 20 provincial-level commerce departments also attended the summit to facilitate business cooperation, showcasing China's strong commitment to opening up to the global business community.

A report released during the summit by the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce indicates that multinationals are active participants in China's development, important supporters of the country's pursuit of high-quality development, and key links in its deep integration into global industrial and supply chains.

Multinational companies have also benefited from increased profit margins, improved cost structures and optimized resource allocation through their operations in China, according to the report.

Data from the Ministry of Commerce shows that 53,766 foreign-invested enterprises were established in China in 2023, up 39.7 percent year on year. And another 31,654 were established from January to July this year, an 11.4 percent year-on-year increase.

Qingdao Multinationals Summit closes on high note, with over 160 agreements signed

The popular Giant Panda Fu Bao was recently seen feasting away on a fresh bamboo meal while basking in the sunshine at a breeding base in southwest China's Sichuan Province.

Video footage showed a series of heartwarming scenes as the beloved four-year-old delightedly munched down her delicious bamboo shoots under the sun, with discarded bamboo peels scattered adorably across her body. The video was captured recently at the Shenshuping base of China Conservation and Research Center for Giant Pandas (CCRCGP) in the Wolong National Nature Reserve.

Fu Bao, meaning "lucky treasure", was born in July 2020 in South Korea and was the first panda cub ever born in the country. She is the daughter of giant pandas Ai Bao and Le Bao, who were sent to South Korea from China in 2016 on a 15-year lease.

The young panda captured the hearts of netizens and visitors during her time in South Korea with her adorable appearance and unique charm.

She returned to China in April this year and made her official public debut in Sichuan in June after a period of quarantine.

The CCRCGP is a world-leading institution dedicated to breeding and conserving one of China's national treasures, the giant panda. The center has also established a global platform for promoting international cooperation and exchanges involving 18 zoos from 16 countries and regions, 39 domestic animal breeding institutions, and over 10 scientific research institutes.

Beloved giant panda Fu Bao seen feasting away on fresh bamboo