Qingdao is together with all Chinese enterprises in taking the big test of COVID-19

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Aug 30, 2020, 12:17 ET

QINGDAO, China, Aug. 30, 2020 /PRNewswire/ -- The 16th Summer Summit of Yabuli China Entrepreneurs Forum 2020, themed "Chinese Enterprises under the Big Test," kicked off in Qingdao on August 28. Wang Qingxian, member of the Standing Committee of CPC Shandong Committee and Secretary of CPC Qingdao Committee, addressed the opening ceremony.

Wang Qingxian, member of the Standing Committee of CPC Shandong Committee and Secretary of CPC Qingdao Committee, speaks at the opening ceremony of the 16th Summer Summit of Yabuli China Entrepreneurs Forum 2020 (PRNewsfoto/Stadt Qingdao)

The 16th Summer Summit of Yabuli China Entrepreneurs Forum 2020 (PRNewsfoto/Stadt Qingdao)

In his speech, Wang said the COVID-19 pandemic is causing accelerated changes worldwide, and the global industry chain, supply chain and value chain are being restructured at a fast speed. Therefore, the Chinese government has put forward the new economic strategy of establishing a "dual circulation" development pattern, in which domestic and foreign markets can boost each other and "domestic circulation" is the mainstay. Under such a circumstance, the summit of Chinese elite entrepreneurs embodies Yabuli China Entrepreneurs Forum's role in supporting the country's economic development, and is of remarkable significance for Qingdao to develop into a modern international metropolis and build a new international platform for cooperation under the Belt and Road Initiative.

During his speech, Wang recalled his attendance to the 1st Yabuli China Entrepreneurs Forum at Harbin in the winter of 2001. Themed "New Millennium, New Economy," the event came following China announced to join WTO, and the Chinese entrepreneurs were then excited and also some anxious about the opportunities and challenges in the globalization. However, being an attendee to the 2020 forum, Wang said China, the world's second largest economy, has seen dramatic changes over the past 20 years and therefore the topics at today's forum have changed from those about how to keep in line with the trend of globalization to those about how to cope with de-globalization.

Wang offered four suggestions for Chinese entrepreneurs to respond to the test of COVID-19: enhancing awareness of innovation-driven strong development; improving enterprises' quality, strengthening willpower; being highly motivated to embrace industrial Internet.

He also clarified the tasks that Qingdao can fulfill alongside the entrepreneurs: first, jointly building Qingdao into a new strategic pivot in the regions north of the Yangtze River for national opening-up; second, jointly ensuring Qingdao can give full play to its role as a domestic and international exchange platform in driving "domestic circulation;" third, jointly building an innovation base for new-round high-quality development in the northern part of China; fourth, jointly developing the Jiaodong Peninsula economic circle into a new growth pole for national economic development.

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SOURCE Stadt Qingdao