Summary
On the morning of 16 June 2026, Vice President Han Zheng attended and addressed the opening ceremony of the 7th Qingdao Summit of Multinationals Leaders in Qingdao, Shandong. Han Zheng stated that President Xi Jinping attaches great importance to the development of multinationals in China, and that foreign-invested enterprises have played an important role in participating in China's reform and opening up and modernisation. China continues to promote high-quality development and expand high-standard opening up, becoming a stabiliser and powerhouse for world economic growth, providing a broad stage for multinationals.
Han Zheng put forward four suggestions: sharing China's large consumer market and increasing investment layout in China; seizing new opportunities for industrial upgrading and deepening industrial cooperation; building a new ecosystem for innovation cooperation and utilising China's innovation resources; and creating a new situation for open cooperation and maintaining the global economic order. The summit, themed "Multinationals and China – Joining Hands for the 15th Five-Year Plan Towards Innovation and the Future," was attended by over 700 delegates from government departments, international organisations, multinationals, and domestic and foreign business associations.
Commentary
This summit sends a clear signal that China continues to expand opening up and attract foreign investment. For New Zealand SME owners, this implies that market access and the business environment in China may further improve, particularly in areas such as consumer goods and agricultural technology, where cooperation opportunities exist. However, increased investment by multinationals in China will also intensify competition, requiring New Zealand businesses to highlight their differentiation, such as premium quality and sustainability certifications.
On the other hand, China's emphasis on industrial upgrading and innovation cooperation offers potential for New Zealand in food technology and biotechnology, where joint R&D or technology licensing with Chinese enterprises could be explored. Overall, the policy benefits are more long-term, but near-term attention should focus on specific implementation measures such as tariff reductions and intellectual property protection.
Keywords: Han Zheng, multinationals, Qingdao Summit, foreign investment, high-quality development, open cooperation, Fifteenth Five-Year Plan, China market, industrial upgrading, innovation cooperation
Source: Embassy of the People's Republic of China in New Zealand
Disclaimer: This article is compiled from publicly available sources for general information only. The analysis and commentary are editorial opinions. MiDeer Observer does not guarantee the accuracy or completeness of the information provided. Readers should seek independent professional advice before relying on this content, or contact us for more information.
