Chongqing - In Chongqing, the private sector has become a key driver of the city's high-quality development. In 2022, this sector contributed 1,740.44 billion yuan (approximately 244.88 billion USD), accounting for 59.7% of the city's GDP and 62.8% of its growth rate.
The Chongqing International Chamber of Commerce for the Private Sector, pivotal in assisting private enterprises in their global ventures, shared the successes of these enterprises on January 3.
Throughout 2023, the chamber guided 112 entrepreneurs through business operations in eight countries, including Vietnam, South Korea, Singapore, and Malaysia. These entrepreneurs engaged in discussions and exchanges with about 50 overseas government and business entities.
Significant partnerships were formed during these interactions. Entrepreneurs negotiated with 12 institutions, such as the Business Association of China in Vietnam. It also facilitated two Chongqing companies to invest millions in establishing factories in Vietnam and Singapore.
The Chongqing International Chamber of Commerce for the Private Sector broadened its network by securing more agreements. (Photo/Event organizer)
The chamber broadened its network on the same day by securing more agreements, including partnerships with the Cambodia-China Cultural Tourism Industry Promotion Association and the Administration of Saint Petersburg Asia and Pacific Collaboration Center.
As 2024 unfolds, a key question emerges: How can Chongqing's private enterprises further expand into international markets?
Huang Xin, vice chairman of the Chongqing International Chamber of Commerce for the Private Sector, proposes a strategic focus on developing cooperation platforms. These platforms should aim to advance equipment production capabilities overseas, attract investments and technology upgrades, enhance foreign trade, and foster service trade innovation.
Huang emphasizes the role of leading firms like Seres, urging them to leverage their resources, including funds and information, to guide upstream and downstream industry chains in international cooperation efforts.
Huang also highlights the critical aspects of financing and risk management. The chamber should educate firms about the global economic landscape, identify and mitigate overseas risks, and deepen international cooperation efforts.