Representatives from local companies attend a seminar hosted by the Foreign Affairs Bureau of Guangming District.
The Foreign Affairs Bureau of Guangming District on Wednesday hosted a seminar in response to the evolving landscape of international business.
This initiative aims to provide better support for local firms as they navigate the challenges and opportunities of expanding in overseas markets.
The seminar provided valuable insights into the current environment for companies going global, highlighting Shenzhen's foreign trade practices, cross-border settlement issues, and financial considerations.
Representatives of local companies were also briefed about common solutions to typical challenges, variations in cross-border business operations, and the different developmental stages that companies undergo.
Key topics include the export strategies of Chinese firms in the modern era and the associated risks in cross-border financial activities. Participants also engaged in discussions and exchanged ideas about navigating these complexities.
To enhance the practical knowledge available to attendees, professionals from Bank of China and China Life Insurance shared their expertise on financial management and risk control strategies tailored for global operations.
The bureau also invited Li Haixia, an expert in foreign investment, to present the benefits of the APEC Business Travel Card, designed to streamline travel for business personnel across APEC economies. This card allows holders to travel visa-free for five years within approved APEC countries, making international business travel significantly more convenient.
The seminar also covered the importance of FIDIC (Fédération Internationale Des Ingénieurs-Conseils), the leading global organization for consulting engineers.
FIDIC contracts, recognized as the most authoritative standard in international engineering contracts, are frequently used by Chinese firms engaged in overseas projects.
Shenzhen firms have made robust international expansion, with 10,042 businesses established across 147 countries and regions as of the first season this year and a total investment of US$89.07 billion, official data show.
In 2023, Shenzhen companies established 910 firms in 47 countries, investing US$13.65 billion and leading the nation in outbound investment.