Home to the local brew Tsingtao and the host to the largest beer festival in Asia, Qingdao also boasts a number of historical and cultural attractions. Qingdao is possibly the most beautiful coastal city of China, famous for comfortable weather, a large number of beaches and delicious seafood. Being a former German concession has also provided it with attractive European-style buildings and has been a favorite escape for Chinese holidaymakers and steadily coming under the radar of foreign visitors as well. Qingdao is a major seaport and naval base, as well as a commercial and financial center. It is home to electronics multinationals such as Haier and Hisense.