The Qingdao Multinationals Summit, first held in 2019, has become a key platform for Qingdao to further its opening up.

According to the Qingdao commerce bureau, a total of 160 Fortune Global 500 companies invested in 309 projects in Qingdao during the first Qingdao Multinationals Summit. Both numbers increased in June this year -- 168 Fortune Global 500 companies invested in 49 more projects.

Over 7,000 foreign enterprises had invested in Qingdao by June this year.

Among the 309 project agreements signed during the first summit, seven have been registered and six have started construction or begun operating. A total of 3.28 billion yuan has been invested in the projects.

The projects cover a variety of industries, including advanced manufacturing, information technology, and healthcare, striving to create a better future for the global economy, according to officials.

With an actual investment of $17.61 million, the second phase of the smart industrial park of Hexagon has already started construction.

Hao Jian, CEO of Hexagon China, said he was looking forward to business opportunities brought about by the second Qingdao Multinationals Summit on July 15. Hao also spoke highly of the business environment of Qingdao, which helped with the smooth implementation of their project.