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Wenzhou empowers SMEs to create stronger business environment

ALMS|Updated: October 10, 2023

In a bid to bolster its business environment, Wenzhou is pioneering a novel approach: empowering small and medium-sized private enterprises by adopting private services and leveraging social capital.

One standout example is the Wanyang Science and Technology City, where companies like Zhongwu Technology are thriving. Chen Dongke, head of the company, has lauded the city's innovative approach, which gives the option to convert rent payments into mortgages, providing a sense of security for future growth.

Private entities such as Wanyang Group, which are committed to SME support, employ various measures, including industrial agglomeration clustering and resource sharing, effectively lowering investment costs. This ensures that affordable factory spaces are within reach for aspiring entrepreneurs.

Industrial agglomeration not only stimulates growth but also streamlines supply chains, facilitating product upgrades and cost reductions for SMEs.

The private sector in Wenzhou is actively contributing to bettering the business environment, extending support for technological innovation and talent cultivation. Digital platforms as well as collaborative centers have been formed for numerous firms, offering a range of services, from policy support to technological assistance.

The city's approach reflects its commitment to fostering a thriving business ecosystem, one that empowers SMEs and enhances the climate overall.

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