From June 15 to 17, the 7th Qingdao Multinationals Summit convened right on schedule.
A compelling trend has emerged: Why are global corporate giants increasingly choosing to double down on this city? Their strategies have evolved from initial exploratory investments to sustained capital injections, functional upgrades, and even the establishment of regional headquarters, R&D centers, and core production bases.
The answer lies in Qingdao’s accumulating “Cluster Momentum.” This powerful gravitational pull—forged by complete industrial chains, innovation ecosystems, and open platforms—has become the core code for attracting global capital.
The investment logic of multinationals has long moved beyond the simple calculus of factor costs (such as land or labor). Today, they seek systemic advantages, which is capable of supporting long-term strategies and enhancing global competitiveness. The decision by industry leaders to deepen their roots in Qingdao serves as the strongest testament to this shift.
Yihai Kerry Group, a Fortune Global 500 enterprise, exemplifies this trend. Its Qingdao Food Industrial Park project saw its planned investment jump from an initial $300 million to $1.8 billion after multiple rounds of expansion. It now stands as the nation’s most comprehensive integrated food industrial park. Meanwhile, Hexagon AB has established its Greater China headquarters in the Qingdao High-Tech Zone, backing it with a 1.3 billion yuan investment in a smart industrial park.
Korean enterprises are demonstrating remarkable resilience and upgrading their presence. CJ Group has increased its investment in Qingdao 13 times over the past three decades. Nongshim Group, having set up a production base in 1998, has poured 2 billion yuan into the area since 2017, constructing a state-of-the-art automated factory in the SCO Demonstration Zone to serve as a core food processing hub. This reflects a long-term bullish outlook on the Chinese market and Qingdao’s locational advantages.
No longer content with mere manufacturing, Korean firms are evolving into active participants in local innovation. Nongshim’s new facility integrates fully automated lines and smart management systems, while CJ Group has relocated portions of its R&D functions to Qingdao, driving the upgrading of local supply chains.
It is evident that Qingdao’s industrial cluster momentum allows multinationals to capture immense value by staying close to future markets. In turn, these heavyweight investments are elevating the caliber and competitiveness of Qingdao’s industrial clusters.
When the global strategies of multinationals align perfectly with the industrial upgrading goals of local economies, Qingdao is anchoring an increasingly pivotal position on the global industrial map. Together with its global partners, the city is scripting a new chapter of open cooperation and mutual success.
