Business community urges young entrepreneurs to boost global recovery

By Ma Qing | chinadaily.com.cn
Updated: April 26, 2023
The International Alliance of Young Entrepreneurs Associations is established during the first International Cooperation and Development Conference for Young Entrepreneurs in Beijing on April 25, 2023. [Photo provided to chinadaily.com.cn]

Business community led by heads of chambers of commerce and business organizations calls for international young entrepreneurs to boost confidence and add vitality to economic recovery at a conference in Beijing.

The conference, titled the first International Cooperation and Development Conference for Young Entrepreneurs, kicked off in Beijing on Tuesday, with the establishment of a new association for international young entrepreneurs.

Over 200 leaders of foreign chambers of commerce, business organizations, and young entrepreneurs from nearly 50 countries are represented at the conference, which aims to explore methods for achieving global economic recovery in the post-pandemic era.

The event, under the theme of "Revitalizing Growth, Win-win Cooperation", delved into various topics such as stability of industrial and supply chains, multilateral cooperation and mutual benefits, as well as the deepening of cooperation between young entrepreneurs from ASEAN, China, Japan, and South Korea.

A new platform, named the International Alliance of Young Entrepreneurs Associations, was established during the event to encourage more international cooperation among young entrepreneurs and better serve the Belt and Road Initiative and the open world economy.

The alliance was launched by the China International Youth Exchange Center in collaboration with youth entrepreneur organizations from 33 countries.

The conference also adopted the International Cooperation for Young Entrepreneurs Beijing Declaration, which called for more collaboration among young entrepreneurs from all countries to contribute to the recovery of the global economy and the construction of an open world economy.

The instant voting survey, conducted among attendees during the conference, showed nearly 60 percent of respondents held an optimistic outlook on global economic recovery. Over 30 percent of them believed that the artificial intelligence industry has the greatest growth potential.

Respondents generally agreed that technological innovation and the effective operation of new multilateral trade agreements would be the main driving force for global economic growth in 2023. Additionally, most attendees believed that the Chinese market would provide the best investment return in 2023.

Young entrepreneurs are an important force for promoting social progress and a vital source of momentum for the development of the global economy, said Fu Zhenbang, vice-president of the All-China Youth Federation, at the opening ceremony.

They have a significant mission and an urgent responsibility to promote the recovery of the world economy and maintain stable global industrial and supply chains, by focusing on open consensus, innovation, free trade, sustainable development, and international cooperation, said Fu.

During the conference, Tom Luckock, deputy chair of the China-Australia Chamber of Commerce and other speakers, called on young entrepreneurs to boost confidence in economic recovery, strengthen unity, and closely communicate to add vitality to global economic governance in a speech.

Qi Bin, executive vice-president and deputy chief investment officer of China Investment Corporation, and Luis Rubio, president of the Spain Chamber of Commerce in China delivered keynote speeches at the world economic situation, building the Belt and Road, and China-EU cooperation.

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