The 7th WCIFIT｜Chongqing-Guangdong Collaboration Upgraded: CFTEC Signs Strategic Agreement with Greater Bay Area

On May 22, Chongqing Foreign Trade and Economic Cooperation Group (CFTEC) - newly formed through the merger of Chongqing Foreign Trade and Economic Cooperation (Group) Co., Ltd. and Chongqing HTW International Trade Co., Ltd. - debuted innovative products at the 7^th WCIFIT. During the event, its subsidiary Ming De International Holding Group Co., Ltd. (abbreviated as "Ming De Group") signed a strategic cooperation agreement with the Guangdong-Hong Kong-Macao Greater Bay Area. Under the strategic framework agreement, Ming De Group and the Guangdong-Hong Kong-Macao Greater Bay Area will deepen financial collaboration between Chongqing and Hong Kong across key areas including: cross-border financial service, capital market cooperation, fin-tech innovation, green and sustainable finance, and talent exchange and training. The partnership aims to enhance connectivity between the two regions' capital markets and facilitate Hong Kong financial institutions' participation in mainland China's financial market development.

On May 22, the exhibition booth of Chongqing Foreign Trade and Economic Cooperation Group (CFTEC) at Chongqing International Expo Center. Photo by Reporter Xie Zhiqiang/Visual Chongqing

Ming De Group, established in 1985 by the Chongqing Municipal People's Government in Hong Kong, currently serves as the Hong Kong Office of the Chongqing Municipal Commerce Commission and is the most influential Chongqing-based enterprise in Hong Kong. Headquartered in Hong Kong, Ming De Group operates as a window company with its core responsibilities centered on bulk commodity trade. It specializes in the international trade of resource-based products, leveraging Hong Kong's advantages in cross-border settlement, futures trading, and foreign exchange management to build a business system focused on international trade, supplemented by cross-border investment/financing and settlement services. Its key products include: ferronickel and stainless steel, coal, copper, and manganese ores, beef and cassava flour.

Additionally, CFTEC signed a cooperation agreement with the Jiangbei District People's Government to jointly develop a one-stop digital-intelligent marketplace. This platform will provide enterprises with end-to-end, professional trade services, including: transaction matching, trade consulting, documentation services, customs clearance and inspection, logistics and warehousing, payment collection and settlement, and tax rebate processing. The collaboration also aims to establish a national-level "Technology Business Incubator" and a foreign trade industry cluster zone.

Source: New Chongqing - Chongqing Daily