Weifang in Shandong province hosted a business promotional event during the second Qingdao Multinationals Summit on July 16.

Representatives from the world’s top 500 companies, China’s top 500 companies, and industry leaders were invited to attend the event. 

Weifang hosts a business promotional event during the second Qingdao Multinationals Summit on July 16 in Qingdao, Shandong province. [Photo/wfnews.com.cn]

Liu Yun, mayor of Weifang, delivered a keynote speech. Liu extended a warm welcome to all the distinguished guests and entrepreneurs, as well as expressed his heartfelt thanks to friends at home and abroad who have been caring and supporting the development of Weifang.

Weifang is an ancient city with thousands of years and history, as well as profound culture. It is a transportation hub with an advantageous location, an important industrial city with a solid foundation, and an open port that connects many parts of the world, said Liu.

The city has launched new development plans to contribute to the construction of China's new dual-circulation development pattern and advance high-quality development.

According to Liu, the city aims for its GDP to exceed 1 trillion yuan (about $154.43 billion) in five to six years. It also strives to enter the list of second-tier cities in China and be among the top 30 cities in terms of comprehensive strength among China's large and medium-sized cities by that time.

Agreements for cooperation projects are signed during the event. [Photo/wfnews.com.cn]

“Transnational corporations are powerful promoters of economic globalization and have made positive contributions to the development of Weifang. We will continue to offer tailored services, preferential policies, and a sound business environment for investors,” said Liu.

The city’s modern agriculture and advanced manufacturing sectors were promoted at the event. Key projects like the Xinlian Big Data Industrial Park and the "Bromine Valley" scientific research center were also highlighted.