Binzhou city in Shandong province will sign over 40 projects during the upcoming fourth Qingdao Multinationals Summit, with a planned investment amount of over 50 billion yuan ($6.85 billion), local authorities said at a news conference held on Oct 7.

These projects will cover key development fields in Binzhou, including high-end equipment, biopharmaceuticals, new energy, new materials, food and health, and modern logistics.

The Qingdao Multinationals Summit, which will be held in Qingdao, East China's Shandong province, from Oct 10 to 12, is expected to promote economic exchanges between Chinese businesses and global companies, and encourage MNCs to invest in advanced manufacturing, modern services, and high-tech and green sectors in China.

Binzhou is committed to turning the summit into an important platform for attracting businesses and talents, said local officials.

Binzhou will also host a special promotional event during the summit.