The 2020 Sino-European Entrepreneur Summit Qingdao Forum opened Saturday in Qingdao City of east China's Shandong Province, gathering more than 200 Chinese and foreign entrepreneurs to discuss issues like new changes amid COVID-19 and new opportunities brought by new development patterns.

Deals of 17 cooperative projects including industrial accelerators for China-Europe trade were signed at the event, covering such fields as new infrastructure construction and new economy, with an investment of 12.6 billion yuan (1.9 billion U.S. dollars).

Four other sub-venues were also set up in London, Madrid, Dublin and Milan, simultaneously interacting with the main venue via video links.

The Sino-European Entrepreneur Summit was founded by Long Yongtu, China's former Vice Minister of the Ministry of Foreign Trade and Economic Cooperation and chief negotiator for entry into the World Trade Organization.

Last year, Qingdao introduced the summit and became the chosen Chinese city to hold it. The summit was renamed the "Sino-European Entrepreneur Summit Qingdao Forum," of which two events are held every year -- one in Qingdao and the other in a European city.