China's Ministry of Commerce (MOC) reported on August 21 that some 490 of the world's 500 largest companies have investments in the country which would remain committed to opening up, further liberalizing investment and building an investment environment with international competitiveness.

"China will provide more investment opportunities for multinational companies, and create an investment environment that is more stable, fair, transparent and predictable," Qian Keming, vice MOC minister, told a press conference.

Describing  multinationals as important participants, witnesses, contributors and beneficiaries of China's reform and opening-up during the past four decades, the official said China's policy stance on encouraging foreign investment would remain unchanged.

Hao Hongmei, a researcher at the Chinese Academy of International Trade and Economic Cooperation under the MOC, attributed the country's attraction for multinationals to its deep integration into the global industrial chain and value chain as well as the incentives to further opening up and liberalizing investment and trade.

The country is to host the first Qingdao multinationals summit on Oct. 19-20 this year. The summit will be forged into a new platform for the country's greater opening-up, the vice commerce minister said.

Some 188 executives of overseas enterprises from 26 countries and regions have confirmed their participation in the Qingdao summit, Ren Airong, deputy governor of Shandong Province told the same press conference.