Data shows that the number of Chinese chambers of commerce reached 70,000 in 2014, up from 1,000 in late 1980s.
Data shows that the number of Chinese chambers of commerce reached 70,000 in 2014, up from 1,000 in late 1980s. Chambers of commerce are a yardstick to gauge the openness and economic development of a regional economy. Alongside China’s market economy reform, a growing number of chambers of commerce have participated in industrial policymaking and played a crucial role in improving management, dealing with trade disputes and protecting the legitimate rights of member enterprises. In recent years, however, some chambers of commerce were found to be involved in corruption and unusual trading. Experts cautioned that it is urgent to regulate the sector through shutting down zombie chambers, making the best chambers even stronger and integrating small and weak ones.