Foreign investment has promoted China's reform and opening up, promoted the renewal of ideas, the transformation of government functions and the reform of the macro-economic management system, which have played an important role in creating a new economic system of opening up. The foreign economy formed by foreign investment occupies an important position in China's market-oriented economy and promotes the development and transformation of China's economy and society in various aspects.
The first Qingdao Multinationals Summit is a declaration of China's commitment to opening up to the outside world at a higher level and demonstrates China's firm confidence in opening up to the outside world.The Summit aroused a positive response from many multinational companies and strengthened their determination to invest in Shandong, China.
Karen Herman, the senior vice president of Delphi Technologies, said, “the participation of Qingdao Multinationals Summit was quite good from all aspects. China is the biggest market for us to invest in and to some extent the biggest market in the world. It offers more opportunities for foreign companies like us.”