The Fifth Multinational Corporation Leaders Qingdao Summit Opens, Panasonic Continues To Participate For Three Consecutive Years Witnessing Qingdao's High-Quality Development

(MENAFN- TimesNewswire ) From August 27, the fifth Multinational Corporation Leaders Qingdao Summit, hosted by the Shandong Provincial government and the Ministry of Commerce, took place as scheduled. Over 500 guests from more than 450 multinational companies, as well as diplomats from various countries, representatives from international organizations and business associations, and Chinese and foreign academicians and experts gathered to discuss cooperation and plan for the future. Over the past five years, the Qingdao Summit has witnessed the solid steps of multinational companies deeply integrating with the Chinese economy, building a bridge that transcends borders and connects the future, allowing the wisdom and strength of global enterprises to converge and write a new chapter of win-win cooperation.

Zhao Bingdi, President of Panasonic (China) Co., Ltd.

As a participant for three consecutive years, Zhao Bingdi pointed out,“The Qingdao Summit has built an efficient communication platform for multinational enterprises and the Chinese government, promoting mutual understanding and cooperation. Panasonic has benefited greatly from each participation in the Qingdao Summit.” He recalled,“Last year, we showcased our latest achievements in digital economy development and high-end equipment manufacturing, which not only strengthened our cooperation with Shandong and even the whole country but also laid a solid foundation for Panasonic's business expansion in China.”

In Zhao Bingdi's view, every step of Panasonic's growth-from its initial exploration of the Qingdao market in 1993 to becoming an industry leader with about 1,500 employees-embodies the wisdom of win-win cooperation between the enterprise and the city.“As one of the first coastal open cities, Qingdao has significant advantages in attracting foreign investment, promoting trade, and driving innovation due to its unique geographical location, rich resources, and continuously optimized business environment.” Zhao Bingdi remarked that thanks to the continuously improving business environment and policies, Qingdao provides a friendly industrial development environment for Panasonic, allowing the company to operate stably and confidently in a fair and transparent market.

Over the past 31 years, Panasonic Qingdao has formed three major product clusters in component manufacturing and sales related to communication and automotive sectors, widely applied in mobile phones, automobiles, and home appliances. Among these, Panasonic's products have over a 50% share in the global smartphone market. By 2023, sales reached 1.08 billion yuan, with cumulative sales exceeding 30 billion yuan.

“For more than 30 years, Qingdao's business environment has continuously improved, providing a favorable investment and development environment for foreign enterprises. This optimization is reflected not only in government support and assistance to enterprises but also in the government's emphasis on attracting foreign investment.” Zhao Bingdi believes that this improved environment not only attracts more foreign companies to invest in Qingdao but also offers broad development prospects for existing enterprises.

“In the field of new energy, Panasonic's gas reforming fuel cells play an important role in the coal-to-gas and coal-to-electricity processes; pure hydrogen fuel cells showcase their value in hydrogen energy distributed energy pilot projects.” Zhao Bingdi introduced that Panasonic has now engaged in in-depth cooperation with Shandong in multiple areas.

In the health and elderly care sector, Panasonic continues to innovate based on market demand in China, launching the Six Constant Climate Station product, which integrates air conditioning, fresh air, and other functions to improve air quality. This product has been applied in the Qingdao Sino-German Future City residential project, creating a healthy, safe, and comfortable living environment for residents. Last year, Panasonic Group signed a memorandum of understanding (MOU) with Qingdao Tiantai Group, aiming to create a smart health space by fully integrating software and hardware technologies to jointly promote the construction of high-quality health and wellness communities.

Currently, Qingdao is continuously strengthening its policies to create a new high ground for high-level opening-up. The collaboration between Panasonic and Qingdao not only vividly illustrates the win-win cooperation between both parties but also serves as a successful model for foreign enterprises developing in China.

Looking to the future, Zhao Bingdi expressed his expectations:“We are very willing to deepen cooperation with Qingdao in the hydrogen energy sector and jointly promote Qingdao's grand goal of becoming an 'Eastern Hydrogen Island.' At the same time, we also look forward to further expanding cooperation in various fields such as automotive components, intelligent manufacturing, and elderly-friendly living spaces, together creating a better future.”

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