Buyers select sporting goods in Yiwu, Zhejiang province. [Photo/Tide News]
Over 100 professional overseas buyers arrived in Yiwu, a county-level city in Jinhua, Zhejiang province, renowned as a global supermarket, on Oct 27, after participating in the Canton Fair in Guangdong province.
The city's diverse population, featuring people of different skin colors and languages, reflects its unique charm and international character.
On July 31, Yiwu became the first county-level city in China to reach 10,000 registered foreign-funded business entities, with the number standing at 10,534 as of Sept 30.
Investors from over 160 countries and regions have established businesses in Yiwu, engaging in retail, catering, commercial services, and other sectors.
Yiwu's success in attracting foreign investors can be attributed to its progressive policies. Since 2009, the city has streamlined registration processes, reducing the time required to set up a foreign-invested company from 15 workdays to just three.
Additionally, the "Yijiang" app, launched in May last year, provides online services for foreign businesses, further enhancing Yiwu's appeal.
The city has also seen the rise of a "business network effect", where overseas entrepreneurs refer their peers to Yiwu. For example, Ali Kamran, a Pakistani entrepreneur, founded a consulting firm to assist international investors in navigating Yiwu's market.
Beyond trade, foreign-invested restaurants have also increasingly emerged in Yiwu. They not only serve diverse cuisines but also offer a space for global exchange, symbolizing Yiwu's vibrant international community.
Professor Chen Jianwei of the University of International Business and Economics said that Yiwu has developed an international ecosystem, fostering long-term investment and collaboration between Chinese and global markets. As Yiwu continues to grow, it remains a beacon of opportunity for entrepreneurs worldwide.
