The first 2014 Global Business Leaders Summit opened in Qingdao, East China’s Shandong province on Oct 12. It was attended by large numbers of business leaders from home and abroad to share experiences in industry innovation and global market economics through in-depth dialogues.

The nongovernmental and nonprofit-making summit has created a string of parallel forums, involving marine economy, biological medicine, tourist catering and building materials to deepen mutual cooperation and obtain mutually beneficial results among high-level enterprises around the world.

Commenting on the industry innovation, Tao Lin, government affairs general manager of Tesla Motors' China operation said that new functions could be explored through technological innovation. She believed that the rapid development of Qingdao's auto industry would promote the transformation of related industries and a revolution in the business structure.

Xia Geng, vice governor of Shandong province, attended the opening ceremony and gave a speech. "The Qingdao government is deepening market reforms and updating enterprises," He said "The city’s Huangdao District is a high-tech industrial development zone approved by the State Council and has been focusing on the blue economy to carry out innovation in all areas."