The Sino-German Enterprises Conference for Exchange and Cooperation, themed "Dialogue with Hidden Champions to Connect Changning to the World", took place in Shanghai on Sept 19.

The event, organized by the Sino-German Innovation Research Institute and the Shanghai Changning Chinese Overseas Friendship Association, aimed to deepen Sino-German exchange and collaboration in trade, technology, and culture. The conference showcased the role of the Sino-German Innovation Research Institute as a bridge between Chinese and German enterprises.

Prominent figures in attendance included Hou Jijun, chief of Changning district, and Liu Qi, dean of the Sino-German Innovation Research Institute. Professor Hermann Simon, known as the "father of hidden champions", delivered the keynote address.

The term "hidden champions" was first coined by Professor Simon, a renowned German management thinker. Through extensive research on successful small and medium-sized enterprises (SMEs), he identified "hidden champions" as lesser-known companies that hold leading positions in niche markets. According to Professor Simon, these companies meet three specific criteria: ranking among the top three globally or holding first place on their continent within their industry; generating annual revenue less than 5 billion euros ($5.58 billion); and maintaining a low public profile.

Speaking at the conference, Dean Liu highlighted Shanghai's significance as a window both for the world to observe China and for China to observe the world. He emphasized Changning district's role as a driving force for economic growth in Shanghai and China, citing its thriving digital economy, headquarters economy, and creative fashion industry.

The conference marked the official establishment of both the Sino-German Innovation Research Institute International Hidden Champions (China) Research Center and the International Hidden Champion (China) Service Center. The centers, both located in Changning district, will serve a resource for research and development for both Chinese and German "hidden champion" enterprises. They will also play a key role in assisting Chinese businesses expanding internationally and attracting foreign investment to China.

Professor Simon's keynote speech, "Hidden Champions: Success Lessons of the World's Most Secretive Market Leaders Worldwide", provided insight into the factors behind the success of these companies. He emphasized the competitive advantages and growth potential of Chinese specialized and sophisticated enterprises in the global market. He also stressed the need to enhance collaboration between Chinese and German enterprises to capitalize on emerging opportunities in the global marketplace, leveraging their respective strengths for mutual benefit and collaborative development.

The conference also included presentations from prominent industry leaders, entrepreneurs, and experts from both China and Germany. Discussions centered around Sino-German cooperation in trade, innovation, and cultural exchange, with participants sharing valuable insights and experiences.