Qingdao summit sees 99 foreign-investment projects inked

QINGDAO -- A total of 99 major foreign-investment projects have been inked at the third Qingdao Multinationals Summit, which concluded on Tuesday in Qingdao, East China's Shandong province.

The projects, with a combined investment of $15.6 billion, involve new-generation information technology, new energy and materials, high-end equipment, high-end chemical industry and other industries.

Zeng Zanrong, executive vice governor of Shandong, said the projects involve huge investments and lots of new technologies, have good development prospects and will drive the local economy.

According to the organizers, 476 multinationals participated in the summit offline, an increase of 58 over the previous event, while 186 Fortune 500 companies took part in, an increase of 30.