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16th Sep 2019

Stakeholder

EU and Chinese SMEs matchmake in Brussels

  • More than 200 SMEs from China and all across Europe participated in Bank of China's EU-China SMEs Matchmaking Event in Brussels on 2 June. (Photo: Bank of China)

Bank of China successfully held the 2017 EU-China SMEs Matchmaking Event in Brussels on 2 June, in partnership with Eurochambres, and supported by the EU SME Center and EU-China Business Association (EUCBA).

More than 30 EU-China SMEs Matchmaking events have been organized by Bank of China since 2014. Corresponding with China's "One Belt One Road" policy, Bank of China has attracted more than 20,000 enterprises from 80 countries worldwide to attend this event. 5,000 letters of intent for business cooperation have been signed and 10,000 negotiations have been conducted accordingly, since that first event.

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Small and medium-sized enterprises (SMEs) play a crucial role in job creation, technological innovation and economic growth. Many obstacles are encountered during the development process of SMEs.

In order to support SMEs and actively help contribute to the real economy, Bank of China offers a global SMEs matchmaking service that aligns with its business philosophy, namely "serving society delivering excellence". This service aims at providing a better cross-border communication and trading platform for EU-China SMEs.

Complementing and transforming market resources of developing countries with technologies of developed countries create profound impacts on sustainable economic development and employment.

Embracing the three concepts of deepening mutual trust, expanding common ground and win-win cooperation, this year''s matchmaking event was held in the capital of the European Union, Brussels, and covered a broad spectrum of industries and sectors, including internet and e-commerce, intelligent manufacturing, and new energy.

The event facilitated discussions on enterprise transformation and innovation, integration of traditional industries and internet, and the practice of China's national strategy, so called "made in China 2015".

145 European enterprises from 22 countries, including Belgium, the Netherlands, Portugal, Germany, France, Sweden, Luxembourg, Croatia, Italy, Denmark, Finland, Hungary, the UK, Greece, Ireland, Romania and Spain, had face-to-face communications with 78 Chinese enterprises from Beijing, Anhui, Henan, Tianjin, Shanghai, Guangdong, Hubei, Shannxi, Sichuan, Zhejiang, Jiangsu and Shanxi.

246 pairs of SMEs reached preliminary cooperative intentions. 68 pairs signed letters of intent to pursue business collaboration opportunities after the event.

All business negotiations cover various industries, such as internet and e-commerce, environment protection and new energy, high technology, high-end manufacturing, winter sports and cross-border tourism, modern agriculture and food industry, biological pharmacy and medical treatment, and chemical industry.

Cross-border matchmaking provides an effective platform for enterprises, who hope to expand internationally, to initiate technical cooperation and facilitate industry transformation and upgrading.

Instead of having to pursue traditional methods to attract business and investment, Bank of China has adopted an innovative mode of "one-to-one" or "one-to-more" negotiations and connections. The potential barriers of cross-border business are removed and the concerned enterprises could become international by the following 6 steps: 1) establishment of database, 2) customer matchmaking, 3) remote connection, 4) one-to-one negotiation, 5) site inspection and 6) financial services.

Disclaimer

This article is sponsored by a third party. All opinions in this article reflect the views of the author and not of EUobserver.

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