Representatives of the Luohu District Enterprise Service Center and the eight prominent overseas business associations at a ceremony to mark the signing of memoranda of understanding at the Yinhu Conference Center in Luohu on June 24. File photo

In a significant move to bolster international trade and industrial synergy, the Luohu District Enterprise Service Center signed memoranda of understanding with eight prominent overseas business associations during the Asia-Pacific SME International Cooperation and Development Forum held June 24 at the Yinhu Conference Center in Luohu.

The overseas business associations include major regional players such as the Federation of Hong Kong Industries, the Macau Federation of Science and Technology, the Singapore South China Chamber of Commerce, and the Guangdong General Chamber of Commerce Indonesia.

Under the agreements, both sides will collaborate on cross-border enterprise matchmaking, industrial innovation exchanges and market information sharing. Planned activities also include business negotiations, enterprise visits, and trade promotion seminars.

The partnership aims to bridge technical gaps and enhance resource connectivity between enterprises, science parks, and innovation entities across the Asia-Pacific region.

The initiative leverages Shenzhen’s status as a powerhouse for small and medium enterprises (SMEs).

Jiang Qingqi, deputy director of the Shenzhen SME service bureau, said that the city’s 2.9 million SMEs are the primary engines of high-quality growth. Shenzhen currently leads Chinese cities in "specialized and sophisticated" enterprises, boasting 13,000 such firms alongside 1,333 national-level "little giant" enterprises.

Positioned strategically on the Shenzhen-Hong Kong border, Luohu makes full use of the three major ports in the district — Luohu, Wenjindu, and Liantang — to serve as an important gateway linking the Chinese mainland with the Asia-Pacific market.

Shi Dongxin, Luohu’s deputy district mayor, said that the district’s total foreign trade has reached 340 billion yuan (US$ 50.05 billion).

"Luohu has established efficient direct access to the Asia-Pacific market, opening industrial channels with more than 10 APEC economies, including Russia, Australia, New Zealand, and Thailand," Shi said.

To support this expansion, Luohu has implemented a "four-in-one" global service system. This network spans over 30 countries with more than 1,000 overseas liaison points, offering specialized services in finance, law, logistics, and compliance.

In 2025, the Ministry of Industry and Information Technology approved the establishment of the "Asia-Pacific SME Cooperation Zone • Shenzhen’s Luohu District." The zone covers 11.67 square kilometers across the Nanhu, Guiyuan, Sungang, and Qingshuihe subdistricts in Luohu.

The forum comes as Shenzhen prepares to host the 33rd APEC Economic Leaders' Meeting scheduled to be held in Shenzhen in November. The event will mark the third time a Chinese city has hosted the summit, following Shanghai in 2001 and Beijing in 2014.

By securing these eight new partnerships, Luohu intended to capitalize on the upcoming APEC meeting by promoting long-term cross-border cooperation mechanisms for SMEs across the Asia-Pacific region. The district is also positioning itself as the premier "first stop" for SMEs aiming to penetrate the Asia-Pacific market, utilizing its unique port-hub status and the newly minted Asia-Pacific SME cooperation zone to drive future growth.