On 20 July, the inauguration ceremony of the Bohai Bay Area Entrepreneurs Union cum the "Bohai Regional Economic Development servicing the Beijing-Tianjin-Hebei Coordinated Development Summit" were held in Tianjin. The Hong Kong SAR Chief Executive Mrs. Carrie Lam delivered a congratulatory speech online. The CCPIT Party secretary and President Gao Yan, the Tianjin Municipal Committee Party Secretary and United Front Work Director Ji Guo-qiang, the China Federation of Industry and Economy Executive Vice-President and Secretary-General Xiong Meng, and Chairman of the Guangdong-HK-Macao Bay Area Entrepreneurs Union, Sunwah's Chairman Dr. Jonathan Choi attended and spoke on the occasion.

In response to the regional economic cooperation strategy of the central government, Dr. Jonathan Choi initiated the establishment of the Bohai Bay Area Entrepreneurs Union, which was fully supported by the regional United Front Work Department and the Federation of Industry and Commerce. At present, about 700 corporate entrepreneurs from Hong Kong, Beijing, Tianjin, Shandong, Liaoning, Jilin, Heilongjiang, Inner Mongolia as well as entrepreneurs from foreign investment companies have joined the Union. With headquarters in Tianjin, the Union aims to deepen cooperation among entrepreneurs in the Beijing-Tianjin-Hebei region and the Bohai Bay Area. It helps to serve the coordinated development of the region, promote regional economic development, to integrate with the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta region, and to strengthen exchanges and cooperation with countries along the Belt and Road in Northeast Asia.