March 19, 2026, Shenzhen, China - the Shenzhen Federation of Industry and Commerce (SZFIC) advanced a key initiative on modern corporate system development in conjunction with its Second Executive Committee Meeting of the Ninth Session. As part of this initiative, establishing and improving a modern enterprise system with Chinese characteristics has been identified as a top priority for the year, with a target of achieving full coverage among executive member enterprises by 2028—positioning Shenzhen at the forefront of the province in this area.
As a first step, SZFIC invited Wang Xiaotao, a principal contributor to the Guidelines for Executive Member Enterprises on Establishing and Improving a Modern Enterprise System with Chinese Characteristics, to deliver a dedicated seminar to more than 400 enterprises. Drawing on practical experience in private sector development, Wang provided an in-depth interpretation of the framework's core principles, implementation pathways, and operational priorities.
The session focused on key areas including governance structure optimization, compliance management, and risk control systems, offering targeted guidance to help enterprises address common challenges in institutional development and clarify their strategic direction.
Following the seminar, Liu Junlin, Deputy Head of the United Front Work Department of the Shenzhen Municipal Committee and Secretary of the Party Leadership Group of SZFIC, together with Zhou Jianjun, Member of the Party Leadership Group and Full-time Vice Chairman of SZFIC, led a delegation—including Wang Xiaotao—on a research visit to XGD Inc., one of Shenzhen's first pilot enterprises under the program.
During the visit, the delegation reviewed XGD Inc.'s practical achievements in advancing modern corporate governance. Jiang Han, Vice Chairman of SZFIC and Vice Chairman of XGD Inc., introduced the Company's development progress.
As a leading digital payment technology company in China, XGD Inc. recorded approximately RMB 1.47 trillion in transaction volume in 2025, with steadily increasing investment in research and development. Its business footprint spans over 100 countries and regions worldwide.
XGD Inc. has placed modern corporate governance at the core of its development strategy. Internally, the Company has established mechanisms for the regular review and dynamic optimization of systems and processes, ensuring continuous improvement in management efficiency. Externally, it has obtained multiple domestic and international payment licenses and authoritative certifications, operating under rigorous regulatory oversight to achieve standardized and refined management practices.
The delegation highly recognized XGD Inc.'s efforts and achievements, encouraging the Company to further advance toward becoming a benchmark enterprise in modern corporate governance.
Liu Junlin noted that SZFIC will continue to promote this initiative through a structured approach of pilot implementation, phased expansion, and full coverage. By optimizing service mechanisms and innovating working models, SZFIC aims to support private enterprises in strengthening governance systems, enhancing compliance capabilities, and improving core competitiveness.
The initiative is expected to contribute to the high-quality development of the private sector while establishing a replicable "Shenzhen model" for modern enterprise system development.
