Li Feng, China General Manager of Festo AG & Co. KG. [Photo provided to chinadaily.com.cn]

The 4th Qingdao Multinationals Summit (QMS) will take place from Oct 10 to 12 in Qingdao, Shandong province.

During a recent interview with China Daily website, Li Feng, China General Manager of Festo AG & Co. KG, spoke about Festo's participation in the previous three QMS sessions and said that the company is looking forward to gaining valuable policy insights and establishing collaborations with prominent enterprises throughout the industrial chain at this year's event.

He noted that Festo will be focused on bolstering its local presence and advancing its development in China.

Over the past two years, the QMS agenda has prominently featured discussions on the digital economy, green initiatives, and low-carbon practices, all of which are in line with Festo's strategic objectives, according to Li.

He noted that he sees the summit as a crucial avenue for communication and collaboration between multinational corporations and government entities, and a platform that facilitates an exchange of perspectives.

Festo's confidence in the Chinese market stems from China's consistent growth and its leading position in key sectors like as new energy vehicles, batteries, 3C, and photovoltaic technologies. This progress presents promising opportunities for Festo to expand its footprint in the automation sector in China, said Li.

This year marks the 30th anniversary of Festo's foray into China. As such, the company will establish its sole global production center in China's Jinan. This new center will manufacture over 20,000 popular products tailored for the Chinese and Asian markets.

China is presently Festo's second-largest market. Festo will collaborate closely with its customers to harness the innovative value of automation and helping China's manufacturing sector achieve global recognition and success.