"I have stronger confidence with my Qingdao partners in the future cooperation," Xue said.

On Friday, the city's West Coast New Area also witnessed an online signing ceremony of 12 major projects with total investment of more than 10.5 billion yuan.

Qingdao is striving to promote investment and stabilize local business, as the epidemic is under resolute prevention and control.

On Tuesday, the city government released 18 policies to support small and medium-sized enterprises in tackling challenges brought on by the coronavirus, including deferring social security premium collections and a reduced rent and tax burden for enterprises.

On Wednesday, the city's commercial bureau also released a letter in four languages to express the city's intention to promote its business cooperation with companies from across the world.

Qingdao Private Economy Development Bureau on Thursday announced it will help raise a total fund of 3 billion yuan in association with several banks to help local enterprises to overcome difficulty.