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Collective economy promotion association inaugurated
Updated:2018-12-17 11:52

The Bao’an District Collective Economy Development Promotion Association was officially inaugurated Dec. 14 to provide some support to the growth of the district’s economy.

According to a staffer with the Bao’an District Collective Assets Office, the association is a non-profit social organization initiated by 10 joint stock companies and currently has 53 joint stock companies as members.

“The association will serve as an accelerator, an incubator, a service platform and a bridge that connects its member companies and provides them with services including events organization, projects promotion and cooperation, networking and exchanges, investment attraction, financial services, member trainings and industry research,” the staffer said.

The establishment of the association is another major move by Bao’an to comprehensively deepen the reform of stock joint firms and continue to improve the business environment.

Bao’an has a total of 246 community-level joint stock companies in 10 subdistricts, ranking first in the city. The overall assets of these joint stock companies have reached 57.84 billion yuan (US$8.38 billion). Plots of land collectively owned in Bao’an total 88.23 square kilometers and properties owned by these joint stock companies reach 34.72 million square meters. Analysts have said that large areas of collective land in Bao’an are yet to be put into efficient use, and industrial parks need to be renovated into new industrial spaces.

The founding of the association is expected to solve these problems. Once put into service, the association will enhance the cooperation between joint stock firms and help them to better support each other.

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