Dehong companies finally have their umbrella organization, the companies’ development association, which was set up on August 18 in Ruili.

Its inaugural ceremony attracted a number of government officials, famous entrepreneurs and company representatives.

The association,made up of 25 local companies is dedicated to integrating resources, reducing malicious competition, regulating the market and perfecting the local economic system, said Zhu Weihua, chairman of the association.

“Dehong companies are lacking competitiveness due to their small scales, so cooperation is urgently needed to promote further development,” he added. “The association is expected to help companies remove difficulties and solve problems.”

In addition, the association will serve as a bridge, linking companies, government and societies. Dehong has reached a milestone in the history of privately-owned companies in the area.

The association also reached a strategic agreement with the Industry and Commercial Bank of China (ICBC) at the ceremony.