NEWS CENTER

On February 26, 2025, the Hubei Federation of Industry and Commerce convened the "Docking Exchange Meeting to Assist Private Enterprises in Expanding Overseas Markets" in Wuhan. The event aimed to thoroughly implement the important speeches of the President Xi Jinping on the development of the private economy, respond proactively to the call of provincial Party committee, support private enterprises in exploring international markets, and advance high-quality development of the private economy in Hubei.

Reed Biotech Ltd. was honored to be invited to attend this symposium, where it exchanged successful experiences with outbound enterprises, discussed challenges and pain points in overseas expansion, shared resources, and collaborated on solutions to common issues.

The private economy is a vital component of Hubei’s economy. In 2024, the total value of imports and exports of private enterprises in Hubei Province reached 487.4 billion yuan, accounting for 70% of the province's total foreign trade volume. Their contribution rate to the growth of imports and exports was 73.9%, making them the main force driving the development of Hubei's foreign trade. To promote further expansion of private enterprises into overseas markets, the Federation of Industry and Commerce of Hubei Province has actively built platforms and organized this matchmaking and exchange meeting to assist private enterprises in going global.

This meeting mainly focused on the overseas expansion of private enterprises into Southeast Asian countries. Zhou Zhichun, the president of the Hubei Chamber of Commerce in Cambodia, Zhang Huiping, the president of the Hubei Chamber of Commerce in Thailand, and Wu Bo, the executive president of the Hubei Enterprise Association of the China Chamber of Commerce in Vietnam, respectively introduced the economic development situation, resource advantages of Cambodia, Thailand and Vietnam, as well as the matters needing attention for Hubei enterprises to carry out economic and trade cooperation in these countries. At the same time, they shared relevant market opportunities. We clearly understood the cultural differences of different countries. Meanwhile, the presidents of each chamber of commerce made beneficial suggestions on how overseas enterprises could develop their businesses in accordance with local conditions. We benefited a lot from this.

Professor Zou from the School of Economics and Management at Wuhan University suggests that enterprises should make strategic preparations for international development, attach importance to the construction of credit and reputation, and at the same time focus on learning and drawing on the experience of multinational enterprises to form their own supply chains and industrial chains.

This Docking Exchange Meeting provided a platform for in-depth communication between private enterprises in Hubei and overseas chambers of commerce, experts and scholars, and service institutions, enabling enterprises to have a clearer understanding of overseas markets.