Qingdao is continuing to leverage its strategic location, institutional strengths and open business environment to deepen ties with multinational corporations and grow together with them.

The city is home to nearly 40 percent of all foreign-invested enterprises in Shandong province. A total of 179 Fortune Global 500 companies have invested in 412 projects in the city.

Qingdao's industrial structure and commitment to innovation are core drivers of its appeal to global enterprises. "As the economic engine of Shandong province and a rising first-tier city in China, Qingdao is making continuous breakthroughs in high-end manufacturing, digital trade and the marine economy. It is rapidly becoming a globally influential innovation hub," said Samantha Zhu, senior managing director for Greater China, Accenture.

The city's efficient governance and favorable business environment have also won acclaim from foreign investors. "With strong support from the Qingdao government, Astra-Zeneca's Qingdao production base project achieved several key milestones — from land acquisition to groundbreaking — within just 30 days," said Tony Remi Pusic, senior vice-president of AstraZeneca.

AstraZeneca has since established both a global production base and a regional headquarters in Qingdao, with a total investment of $750 million, aimed at enhancing treatment capabilities for rare and respiratory diseases.

Alain Lefranc, vice-president of Atlas Copco Greater China, said that the company's remarkable growth over the past decade is largely attributed to its longstanding collaboration with Qingdao's government.

The company has developed an integrated production base in the city, leveraging Qingdao's robust supply chain and rich talent pool. Its vacuum technology facility was recognized as a "lighthouse factory" and is now being promoted globally within the group's vacuum technology division.

Xiao Gaoqiu, managing director of Kraft Heinz China, emphasized Qingdao's solid foundation in the food industry and its well-established industry chain. The company has operated in Qingdao for 30 years and will continue to invest, according to Xiao.

Qingdao has also made significant progress in its green transition. Mizuho Financial Group of Japan announced plans to continue advancing green finance reform and innovation in the city. Meanwhile, Alumetal is set to establish a new alumina plant in Qingdao, further reinforcing the city's industrial infrastructure.

In addition, Qingdao hosts national-level platforms such as the China-SCO Local Economic and Trade Cooperation Demonstration Area and the Qingdao Area of the Shandong Pilot Free Trade Zone, or Qingdao FTZ, offering multinationals superior development environments and opportunities.

The China-Central Asia Equity Investment Cooperation Fund has officially launched in the demonstration area which will enhance the quality and coverage of Qingdao's cross-border financial services.

Meanwhile, the Qingdao FTZ has implemented investment policies tailored for German enterprises. These institutional advantages and international collaboration platforms are accelerating Qingdao's transformation into a global magnet for foreign investment.

wangyuchen@chinadaily.com.cn