The first session of the Consulting Committee Conference for Qingdao Multinationals Summit in 2022 is held in Jinan, Shandong province on Feb 16. [Photo provided to chinadaily.com.cn]

The inaugural session of the Consulting Committee Conference for the Qingdao Multinationals Summit in 2022 took place in Jinan, capital of East China's Shandong province on February 16, via both online and offline channels.

Thirteen advisory committee members from multinational companies, think tanks, business associations and financial media outlets in China, the United States, the United Kingdom, Germany, Japan, South Korea, Saudi Arabia and other countries and regions attended the conference online.

Zhang Deping, director of the Shandong Provincial Department of Commerce, introduced the general plan and the arrangements for the next stage of the third Qingdao Multinationals Summit.

The members of the consulting committee praised the summit's vital role in encouraging international collaboration and focused their discussion on the third summit's agenda, main topics, and attendees.

The members expressed their desire that the third summit will delve deeper into the most latest trending topics and promote the interaction of activities, the authority of guests, and the summit's efficiency in establishing a platform for worldwide multinational corporations to exchange ideas and collaborate.

Zhu Min, director of Consulting Committee Conference for Qingdao Multinationals Summit, gave suggestions for the summit by focusing on carbon neutrality, supply chains and industrial chains, and said that multinational corporations will be an important force in achieving carbon neutrality.

Xue Qingguo, vice-mayor of Qingdao, said at the conference that Qingdao will make full preparations for this year's summit based on previous experiences, and make this year's event an international and brand-oriented forum.

The Qingdao Multinationals Summit, jointly held by the Ministry of Commerce and the Shandong provincial government, is designed to build a high-end platform to facilitate mutually beneficial cooperation with multinational corporations, and showcase China's efforts to develop an open economy.

Since its inception in 2019, the summit has hosted two sessions, attracting roughly 400 Fortune 500 companies, more than 600 industrial leading enterprises from over 80 countries and regions, and top government officials such as former prime ministers of South Korea, France, New Zealand and the deputy prime minister of Ireland.

During the previous two summits, agreements for 121 foreign-funded projects were signed, totaling $7.82 billion in contractual foreign investment and contributing to the growth of foreign investment in Shandong.