STORY: China remains hot investment destination as multinationals seek more opportunities
DATELINE: Oct. 12, 2023
LENGTH: 00:02:02
LOCATION: QINGDAO, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of the fourth Qingdao Multinationals Summit
2. SOUNDBITE 1 (Chinese): LEON WANG, Executive vice president of AstraZeneca
3. SOUNDBITE 2 (Chinese): LI FENG, COO of Festo BR GCN
4. SOUNDBITE 3 (Chinese): TETSURO HOMMA, Executive vice president of Panasonic Holdings Corporation

STORYLINE:

China remains the world's hot spot for global investment, noted representatives from multinational corporate giants and industry insiders at the fourth Qingdao Multinationals Summit.

The three-day summit wraps up Thursday in Qingdao, east China's Shandong Province.

This year's summit has attracted 416 multinational corporations, 146 of which are participating in it for the first time.

The summit is focused on topics including new trends in industrial investment, achievements in optimizing the business environment, and international cooperation in the digital economy.

SOUNDBITE 1 (Chinese): LEON WANG, Executive vice president of AstraZeneca
"From a global perspective, China leads the world in market opportunities, manufacturing supply chains, and the rapid growth of high technology. I believe that in these three aspects, China will continue to be a hotbed for global investment."

SOUNDBITE 2 (Chinese): LI FENG, COO of Festo BR GCN
"The overall Chinese market, in addition to its market size, presents a great opportunity in terms of its own technological development. Of course, for a multinational company like Festo, we aim to leverage our technological advantages and actively participate in this development. We also hope to establish close cooperation with both the upstream and downstream segments of our industry chain."

SOUNDBITE 3 (Chinese): TETSURO HOMMA, Executive vice president of Panasonic Holdings Corporation
"Perhaps 30 years ago, multinational companies in China primarily invested in labor-intensive industries. However, with the development and maturation of the Chinese market, foreign investments have shifted towards high technology and automation equipment. Panasonic has also undergone this transformation. Furthermore, China's position as a manufacturing powerhouse continues to grow with each passing year."

Data from the Ministry of Commerce showed that over 33,000 foreign-funded companies have been set up in China in the first eight months of the year, up 33 percent year-on-year.

Xinhua News Agency correspondents reporting from Qingdao, China.
(XHTV)