author：Xiao Yuyingsource：School of International StudiesTime：2023-11-19 11:10:00
A gathering of more than 20 executives from listed companies, along with experts and scholars, took place at Wenzhou Business College to delve into strategies for enhancing entrepreneurs’ investment confidence.
The WZBC Wenzhou Entrepreneurs Forum seminar, titled “Enhancing Investment Confidence among Entrepreneurs”, took place at WZBC on November 16th. Co-hosted by WZBC and the Listed Company Association of Zhejiang, the seminar was guided by the Central Financial Committee of the China National Democratic Construction Association (CNDCA) and the Zhejiang Securities Regulatory Bureau. Additionally, it received support from the China Academy of Financial Research (CAFR) at Zhejiang University of Finance & Economics (ZUFE). The event witnessed the participation of over 20 executives from listed companies and expert scholars who provided candid insights on topics related to confidence enhancement, industry development, and the vitality of private investment.
Executive President Zhao Bo, on behalf of WZBC, warmly welcomed the participants of the seminar. He emphasized that listed companies are a vital force in driving economic growth in Zhejiang Province and have a key role in enhancing the investment confidence of private capital. As a regional higher education institution dedicated to local development, WZBC has been hosting a series of academic seminars that serve as a think tank to support and stimulate local economic development.
During the seminar, numerous representatives from listed companies highlighted two key aspects that contribute to the current lack of confidence among private enterprises. Firstly, the prolonged impact of the three-year pandemic has resulted in a significant downturn in the development of most physical businesses, which will take some time to recover. Secondly, there has been a noticeable decline in private investment. This can be attributed to the uncertainty faced by many enterprises regarding the future, leading them to adopt a conservative approach by reducing or even completely halting their investments.
“It is undoubtedly a challenging period for both enterprises and entrepreneurs,” admitted Wang Lei, Vice CEO and Board Secretary of Zhejiang Hongxin Technology Co., Ltd. However, he also emphasized that in the face of adversity, private enterprises should exhibit even greater determination. Wang suggested that private enterprises should strive for self-improvement by not only integrating information technology and automated machinery to enhance production efficiency but also by prioritizing research and innovation to strengthen their brand value. Qiu Wenkui, Chairman of Southeast Electronics Co. Ltd., also shared his perspective on adapting to the new circumstances and achieving high-quality development. “We must remain committed to our core businesses and areas of expertise while simultaneously fostering innovation to ensure sustainable growth,” he remarked.
Confidence is a valuable asset, and all participants in the discussion acknowledged the three key factors – market, enterprise, and business environment – that significantly impact the confidence of enterprises. To enhance the business environment and provide precise support and services to the private sector, it is recommended that the government focuses on several areas. Wang Jun, the Chief Financial Officer of Red Dragonfly Group Co., Ltd., suggested that the government should improve the management of e-commerce platforms, ensure the profitability of online business operations, and establish channels for enterprises to protect their rights. This would contribute to a favorable development environment and boost confidence among private enterprises. Jiang Yan Miao, the Assistant General Manager of Shenwan Hongyuan Securities Company, proposed that the government should recognize and reward benchmark enterprises, enabling them to play a leading role in interpreting policies. This measure would facilitate the transformation of administrative authority into administrative function, ultimately benefiting the overall business environment.
According to scholars from CAFR in ZUFE and WZBC, it is crucial to ensure stability and continuity in macroeconomic policies. Specifically, they propose that effective coordination among financial, fiscal, and industrial policies can create a synergy that promotes consumption, stabilizes investment, and expands domestic demand. To further enhance the confidence of private entrepreneurs, the government should provide timely and accurate interpretations of new policies. This will help private entrepreneurs develop an accurate understanding of economic trends. It is especially important to offer customized interpretations for different groups with diverse demands, such as large enterprises, specialized and innovative enterprises, and small and micro enterprises.
During the seminar, all attendees reached a consensus that Zhejiang Province is at the forefront of the private economy. They emphasized the tremendous importance of this seminar in enhancing entrepreneurs’ confidence in making investments and revitalizing private sector investments.
The seminar is being led by Zhang Xiaohong, who serves as the President of the China Listed Company Forum and Vice President of WZBC. Notable attendees include government officials, entrepreneurs, scholars, and reporters.
The WZBC Wenzhou Entrepreneurs Forum, established in April of this year, has organized a series of academic seminars with diverse themes such as “WZBC and China’s Development” and “Modernization with Chinese Characteristics and the Private Economy.” These seminars aim to promote the spirit of WZBC, explore its future prospects, and serve the local community. Furthermore, in collaboration with various local departments, WZBC has established platforms such as the Wenzhou Research Center for the Belt and Road Initiative and the Two Health Research Institute. Over the years, these platforms have evolved into significant research centers for philosophy and social sciences, making valuable contributions to the field of local social science research.
A list of participating listed companies
Zhejiang Weixing Industrial Development Co., Ltd.
Zhejiang Hisoar Pharmaceutical Co., Ltd.
Baoxiniao Holding Co., Ltd.
Focused Photonics (Hangzhou), Inc.
Hop Hing Holdings Ltd.
ERA Co., Ltd.
Xinya Electronic Co., Ltd.
Red Dragonfly Co., Ltd
Zhejiang Cheng Yi Pharmaceutical Co., Ltd.
Zhejiang East-Asia Pharmaceutical Co., Ltd.
Dongnan Electronics Co., Ltd.
Zhejiang Hongxin Technology Co., Ltd.
LINUO Co., Ltd.
Threeway Co., Ltd.
Wenzhou Hongfeng Electrical Alloy Co., Ltd.
Zhejiang Hongchang Electrical Technology Co., Ltd.
Zhejiang Zhengte Co., Ltd.
Zhejiang Canaan Technology Co., Ltd.
Petpal Pet Nutrition Technology Co., Ltd.
Zhejiang Dayuan Pumps Industry Co., Ltd.
Zhejiang Natural Outdoor Goods Inc.
(Translator：Tian Yue)
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