Qingdao: A magnet for multinational investment
China DailyQingdao, a pivotal gateway for Shandong's economic opening, is rapidly becoming a hub for multinational corporations seeking to capitalize on China's burgeoning market. Diehl Group, a leading global player in the electronic control systems for home appliances, recently celebrated the first anniversary of its production base at the Sino-German Ecopark in Qingdao West Coast New Area. This $40 million facility primarily supplies high-end electronic control boards for washing machines, air conditioners, and refrigerators, meeting local demand and strengthening the city's capabilities in advanced home appliance systems. "Qingdao West Coast New Area offers the most comprehensive industrial chain clusters we've encountered, providing the support needed to expand our business across the Asia-Pacific region," said Dong Haiyong, general manager of Diehl Controls Co Ltd. Qingdao's evolving industrial system and ever-improving business climate make it an attractive destination for multinational investment. With national-level open platforms such as the China-SCO Local Economic and Trade Cooperation Demonstration Area and the Qingdao Area of China Free Trade Pilot Zone, Qingdao continues to draw global attention.