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Twenty enterprises were recognized as the first batch of trade headquarters enterprises by the Shenzhen Municipal Bureau of Commerce on March 9. They also received certificates and plaques issued by the bureau.

In a seminar held on the same day, representatives of the companies – composed of state-owned enterprises, private enterprises, and foreign enterprises – discussed issues pertaining to the development of trade and enterprises.

These enterprises cover four major categories: domestic wholesale and retail, international trade in goods, logistics and warehousing, international trade in services, and platform trading business.

These companies’ annual revenue exceeded a total of 800 billion yuan ($116 billion) in 2021, and together have more than 450 branches outside Shenzhen.

Their trade goods include bulk commodities, agricultural products, integrated circuits, high-tech products, and daily consumer goods, among others.

Trade headquarters enterprises refer to trade organizations established by enterprises in Shenzhen, which have procurement, allocation, sales, settlement, logistics, and other single or comprehensive trade functions. It also includes platform trading enterprises that are engaged in matching transactions or providing supporting services based on information technology, such as the internet.

The city believes that the development of trade headquarters enterprises will help further promote the city’s high-standard opening up to the outside world, improve the degree of trade concentration and radiation, promote the integrated development of domestic and foreign trade, and enhance the city’s ability to allocate global resource factors.

The application for the city authorities’ recognition of trade headquarters enterprises was initiated on March 9, and relevant enterprises can submit their applications as required.