Qingdao, August 28 (Xinhua) — The research report "Multinational Corporations in China: Sharing New Opportunities of 'Chinese Modernization'" (hereinafter referred to as "the Report") was released on the 28th at the opening ceremony of the Fifth Qingdao Summit of Multinational Corporation Leaders. The Report points out that advancing Chinese modernization creates new development opportunities and broad development space for multinational corporations.

On August 28, the research report "Multinational Corporations in China: Sharing New Opportunities of 'Chinese Modernization'" was officially released in Qingdao, Shandong Province.

　　Chinese modernization is the modernization of a huge population. The Report holds that modernization with a huge population provides multinational corporations with vast space for market demand; China has become the world's second-largest consumer market for goods, providing an ultra-large-scale market space for multinational corporations to invest in China; modernization featuring common prosperity for all people promotes multinational corporations to optimize their layout; modernization featuring material and cultural-ethical advancement provides multinational corporations with a high-quality business environment; modernization featuring harmony between humanity and nature drives multinational corporations toward higher-quality development; and modernization on the path of peaceful development provides multinational corporations with a higher-level opening-up platform.

　　The Report states that multinational corporations have continued to optimize the industry structure and regional layout of their investment in China and to deepen their cultivation of the Chinese market. In 2023, the scale of foreign investment attracted by China's high-tech industries reached 423.34 billion yuan, accounting for 37.3 percent of China's total foreign investment attraction, up 1.2 percentage points from the full year of 2022 and hitting a record high. China's central and western regions have become a "new hotspot" for foreign investment; in 2023, the growth rate of actual utilized foreign investment in seven central and western provinces including Gansu, Ningxia and Shanxi all exceeded 10 percent.

　　The Report shows that China's FDI (foreign direct investment) trend is basically in sync with the global and Asian trends. In 2023, China's actual utilized foreign direct investment amounted to 163.3 billion US dollars, still at a relatively high level of the past decade. Multinational corporations are also "scaling up" their investment in China; in 2023, 53,766 new foreign-invested enterprises were established in China, up 39.7 percent year on year.

　　The Fifth Qingdao Summit of Multinational Corporation Leaders lasts three days and is hosted by the Ministry of Commerce of China and the People's Government of Shandong Province. The report "Multinational Corporations in China: Sharing New Opportunities of 'Chinese Modernization'" released at the summit was compiled by the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce and is one of the series of research reports titled "Multinational Corporations in China".