As the global economic recovery faces significant headwinds amid rising geopolitical risks, China is doubling down on high-standard opening-up, offering multinational corporations something that has become increasingly scarce: market stability, policy predictability and a vast consumer base, officials and experts said.

"The global economy is undergoing profound adjustments, and the uncertainty around the recovery is rising," Vice-Minister of Commerce Yan Dong said at a news conference on Tuesday. "At the same time, a new wave of technological and industrial transformation is accelerating."

"New growth drivers such as the digital economy, green and low-carbon development, and advanced manufacturing are booming. The willingness of global companies to seek stable markets, a quality business environment and long-term cooperation has never been stronger," Yan said.

China is doubling down on its commitment to high-standard opening-up, releasing the dividends of its supersized market and stepping up efforts to attract and utilize foreign capital, offering multinational corporations a solid institutional foundation and vast market space to deepen their roots and plan for the long term, Yan said.

In the first four months of 2026, high-tech foreign direct investment surged 20.3 percent year-on-year to 116.3 billion yuan ($17.1 billion), and the number of newly established foreign-funded enterprises rose 6.8 percent over last year to more than 20,000, data from the ministry showed.

Furthermore, the seventh Qingdao Multinationals Summit, scheduled for June 15-17 in Qingdao, Shandong province, is a major event targeting foreign companies aimed at presenting China's opening-up policies, market opportunities and innovation space, according to Yan.

The event has drawn 435 corporate executives in total, including 355 from overseas and 80 from domestic firms, said Wen Nuan, vice-governor of Shandong.

The summit will feature 23 parallel sessions spanning four major categories — investment promotion, trade matchmaking, industry exchanges, and regional cooperation — with more flexible formats to maximize collaboration potential, Wen said.

Wang Xuekun, head of the Chinese Academy of International Trade and Economic Cooperation, said that by providing in-depth interpretation of China's economic direction from national ministries and think tanks, it will help multinationals accurately grasp policy signals, adapt to regulatory changes and reduce information asymmetry.

"This will enhance the certainty and confidence of medium and long-term investment, allowing multinationals to move in sync with China's national strategy," Wang said.

Beyond the summit, China has pledged to widen services access, align with global trade rules, upgrade investment structures and improve business services, to deepen high-standard opening-up and attract foreign investment during the 15th Five-Year Plan period (2026-30).

Yan said that the government will refine the negative list for cross-border services trade and gradually open up telecom, internet, education, culture and healthcare. Pilot programs in value-added telecommunications, biotechnology and wholly foreign-owned hospitals will be expanded.

"We will support foreign-invested enterprises to extend their value chains in services and ensure that in already-opened areas, foreign investment can not only enter but also operate successfully," Yan said.

China will proactively align with high-standard international economic and trade rules, accelerating reforms in intellectual property protection, government procurement and fair competition, to provide a "more stable, transparent and predictable" environment for foreign firms, he added.

wangkeju@chinadaily.com.cn