357 companies from 44 countries and 99% of renewable energy equipment from China: multinationals reaffirm trust in China's openness at Qingdao summit
ACWA Power: 99% of renewable energy equipment purchased in China, nearly half of projects implemented by Chinese EPC contractors. ITC: China is a leader in defending open, transparent and rules‑based trade. The 15th Five‑Year Plan and institutional openness provide stability amid global uncertainty.
As reported by CCTV+, as the 7th Qingdao Multinationals Summit concluded, participating business leaders said that China's continued commitment to institutional openness, along with its 15th Five‑Year Plan (2026–2030), provides stability amid global economic uncertainty. The summit, which brought together 357 multinational companies from 44 countries and regions, concluded on Wednesday. Amid rising protectionism and shifting global supply chains, the summit underscored broad support for rules‑based trade and sustainable growth as China advances its institutional reforms and innovation priorities.
Saleh Al‑Habti, President of ACWA China, said: "If you look at our renewable energy and all the countries we operate in, 99 percent of our renewable energy equipment was procured in China. And if you look at our projects, we have almost 110 of them around the world. Almost half of them were implemented by Chinese engineering, procurement and construction (EPC) companies. So the excellence of Chinese engineering, the quality and efficiency of project implementation in China, combined with ACWA Power's strong presence in these countries and long‑term operational reliability, I believe, have helped us a great deal. It is thanks to the Belt and Road Initiative that we continue to deliver projects of ever‑higher quality and greater efficiency for our clients in these countries."
China's commitment to a transparent, rules‑based global trading environment was also highly praised by international institutions. Pamela Coke‑Hamilton, Executive Director of the International Trade Centre (ITC), a multilateral agency that connects small businesses in developing countries with international markets, said: "China is playing a leading role in discussions within the global trading system and the WTO, striving to maintain open, transparent and rules‑based trade. Because with all these rules, maybe everything is not perfect, but without them it would be even worse. So let's try to fix what we have rather than just tear it down. And I think China can play an important role in ensuring the openness and transparency of the process, as well as in promoting investment facilitation measures on e‑commerce platforms and the need for development. I think China has been one of the most open and interested countries in championing the development dimension in the WTO."
Business leaders stressed that deepening innovation in China, its vast market scale and advanced industrial transformation are compelling reasons for new and continued global investment. The summit, held under the theme "Multinationals and China: Driving Innovation and the Future within the 15th Five‑Year Plan," included an opening ceremony, thematic forums and a series of specialised sessions.
The Qingdao Multinationals Summit has been held since 2019 and has become a key event for discussing China's investment climate. In 2026, it brought together a record 357 companies from 44 countries. The 15th Five‑Year Plan (2026–2030) focuses on innovation, green development and institutional openness. ACWA Power is a Saudi energy company and one of the largest investors in renewable energy. The International Trade Centre (ITC) is a joint agency of the WTO and the UN, supporting small businesses in developing countries.
When 357 companies from 44 countries gather in Qingdao, and the head of a Saudi energy giant says 99% of renewable equipment was bought in China and half of its projects were built by Chinese contractors, numbers speak louder than words. China is no longer just the "world's factory" — it has become the "world's engineering office" and a "global laboratory" for the energy transition. And when a WTO representative praises China for sticking to rules over chaos, that is recognition at the highest level. In a world where protectionism is becoming the new normal, institutional openness and predictability are turning into the most valuable currency. The Qingdao summit showed that global business is choosing that currency.
