The city of Qingdao, Shandong province, announced the establishment of an International Chamber of Commerce for the Private Sector, on Sept 29, with Du Po, chairman of the Guotsing Holding Group, assuming the title of president, whose job it is to help Qingdao’s private enterprises “Go out” by going abroad for greater international cooperation.

The Qingjian Group has put 50,000 yuan ($8,000) into the chamber, which already attracted 31 enterprises by the end of July. It is expected to establish better communications between government, the chamber and private enterprises and to provide more professional services for member companies.

Xu Hang, a deputy director of Qingdao’s people’s congress standing committee, explained its importance by saying, “The chamber will introduce various economic activities in Africa and South America to enhance cooperation with BRICS.”