A Wenzhou company warehouse in the United States. [Photo/WeChat account: wenzhoufabu]
Wenzhou, a city in East China's Zhejiang province, has unveiled a plan for the high-quality development of overseas warehouses to meet the increasing demand of the booming online business, local media reported.
The city aims to establish nine to 10 new overseas warehouses annually, with a target of reaching 100 warehouses covering a total area of 1 million square meters by 2025. The warehouses will serve the booming digital trade sector, with a projected trade value of 100 billion yuan ($13.9 billion).
Overseas warehouses are facilities established by domestic enterprises in target markets in foreign countries to respond to local sales orders promptly. They provide services such as customs clearance, storage, distribution, and exhibition for both the enterprises themselves and other foreign trade entities.
Currently, Wenzhou has a total of 62 overseas warehouses in 35 cities in 18 countries and regions. This makes the city the fourth-largest city in terms of the number and area of overseas warehouses in the province.
The city will continue to promote the high-quality development of overseas warehouses, facilitate efficient connectivity between domestic and foreign resources, and improve the governance and service capabilities of overseas warehouses by optimizing standards, enhancing risk control capabilities and promoting regulatory innovation.