The second Maoming Businessmen Conference and Maoming Private Economy Conference was held in the city from April 24 to 25, with more than 600 Maoming businesspeople from around the world taking part in.

The conference, which was hosted by the municipal government, aimed to gather and focus the strength of Maoming's overseas business folk and promote the development of the city's private economy.

The second Maoming Businessmen Conference is held in the city on April 24-25. [Photo/WeChat account: maofabu]

In recent years, Maoming businesses have founded more than 20,000 enterprises around the world, with total assets exceeding 4 trillion yuan ($616.75 billion). They include over 30 listed companies, over 2,000 enterprises with assets topping 10 million yuan and over 8,000 leading enterprises.

More and more Maoming businesses have returned with projects, funds and top people to support the construction and development of the hometown.

A number of private companies with vigorous growth and strong market competitiveness have emerged in Maoming in recent years, including Guangdong Xinhuayue Petrochemical Group and Maoming Challenge Petrochemical Machinery Corporation.

The private economy has reportedly become an important force to promote the economic and social development of the metropolis. It has absorbed 80 percent of the new urban labor force and over 70 percent of the surplus rural labor force.

Especially during the COVID-19 outbreak last year, the private economy is said to have created more than 40 percent of Maoming's tax revenue, over 65 percent of the city's regional GDP and over 80 percent of jobs.

Guests of the second Maoming Businessmen Conference visit Guanggang Wharf, in the city's Bohe New Harbor. [Photo/WeChat account: maofabu]

In addition, Maoming chambers of commerce around the world have been promoting the settling of businesses and projects in Maoming.

According to preliminary numbers, last year the city introduced 338 new projects, each with an investment of over 10 million yuan and the total agreed investment exceeded 200 billion yuan.

Member businesses of the overseas chambers of commerce have invested more than 10 billion yuan in Maoming - covering the fields of construction, real estate, hotel, education, trade, agriculture and tourism. This has generated employment for more than 5,000 people in the city and tax revenue of over 100 million yuan.

The members are also committed to social public welfare undertakings in Maoming, having donated over 2 billion yuan for poverty alleviation in the city to date.