Between March 13th and 15th, more than 50 young entrepreneurs of private companies in Jiangsu Province attended a training class in Changzhou. Most of them inherited the businesses from their parents involved in traditional industries. The purpose of the training is to help these entrepreneurs figure out how to achieve transformation and upgrading in order to adapt to the economic development under the new normal.

The participating entrepreneurs visited Black Peony (Group) Co., Ltd. (hereinafter referred to as Black Peony), a corporate founded 70 years ago and achieved transformation successfully based on its original business of textile and garment in recent years. Black Peony has developed new business in city complex construction and investment in creativity industries, created an online and offline clothing brand ERQ, and established Black Peony Changzhou Science and Technology Park. In the course of developing city complex integrating advanced manufacturing and modern service industries, and emerging industries like new energy and new materials, Black Peony has been recognized as Jiangsu Provincial Science and Technology Business Incubator.