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

Some of the humanoid robots that will take part in a half-marathon race in Beijing scheduled for later this month have completed their first road test.

The race, set for April 13 in the Beijing Economic-Technological Development Area in the capital city's southeast, will feature both robotic and human athletes competing on the same route but on separate tracks to ensure safety for all participants.

The competition is open to global robot companies, research institutes, robot clubs and universities. So far, 23 organizations have signed up for the competition, and six robot teams have participated in the road test held at midnight on March 28-29.

After all-round inspections and adjustments, a 1.8-meter-tall robot named Tiangong Ultra from the Beijing Innovation Center of Humanoid Robots set off first. The robot finished the race by around two hours and 52 minutes.

The robot departed afterwards is a 1.2-meter-tall humanoid from the Noetix Robotics, a company founded in Beijing in 2023. The main features of the robot are the advanced joint design and drive system, which has highly flexible movement capabilities and can achieve rapid movements, make turnings and complete complex movements, according to its developers at the site.

To complete the 21-kilometer half marathon, each robot has to undergo several battery replacement operations along the way, which took about five minutes each time. Each team showed different technical features and tested different contents. A team from Shanghai mainly focused on the adaptability of the robot's sole to the road surface. "We must work to improve its uphill and downhill capabilities, its endurance, its operating stability, and some algorithm strategies to a higher level," said Bi Bei, head of the structural development of the Shanghai-based Cyan Robotics.

Humanoid robots complete first road test for half-marathon in Beijing