The second Qingdao Multinationals Summit will be held from July 15 to 16 in the eastern coastal city of Qingdao, Shandong province, according to a news conference held by the State Council Information Office on May 26.

So far, senior elites from 479 multinational companies from home and abroad have signed up to participate in the event, said officials.

The second Qingdao Multinationals Summit will be held from July 15 to 16 in Qingdao, Shandong province. [Photo/VCG]

"As an important carrier connecting domestic and international cycles, multinational corporations will play a more important role in the dual-circulation development pattern and create broader space for development," said Qian Keming, vice-minister of commerce.

The summit, hosted by the Ministry of Commerce and the Shandong Provincial People's Government, is not only an important means of promoting high-level opening-up, but also a concrete manifestation of the importance the Chinese government attaches to the development of multinational corporations in China, said Qian.

Themed around multinational corporations and China, the summit this year will explore the important role of multinational corporations in reshaping the global industrial chain system and elucidate the mutual promotion and common growth relationship between the Chinese market and multinational corporations.

A research report entitled "Multinational Corporations in China: New Landscape Cultivates New Opportunities" will be released during the summit, reviewing the role of multinational corporations in building a new development landscape and the new opportunities that this new development landscape provides for the growth of multinational corporations.

According to Ji Binchang, vice-governor of the province, 330 guests from 310 overseas multinationals in 26 countries and regions have confirmed they will attend since the official approval of the summit by the State Council on May 6.

A total of 182 guests from 169 multinationals in China have signed up for the summit as well, he said, adding that there are many more who have yet to confirm their attendance.

The organizers are also inviting international organizations and institutions such as the World Trade Organization, the United Nations Conference on Trade and Development, the World Intellectual Property Organization, the World Customs Organization, and the US-China Business Council to attend the summit, said Ji.

The summit will include closed-door meetings, themed salons, sub-forums, multinational company road shows, city road shows, communication activities, project signing activities, and more.

In addition, a supporting expo will be held to showcase the results of global multinational corporations' participation in the transformation of old and new growth drivers under the new development pattern, as well as their latest products and technologies. It will also serve as an efficient communication platform for enterprises from home and abroad to develop cooperative relationships.