Wenzhou, a city in Zhejiang province, is reported to have hosted 161 above-designated-size enterprises in 2023, as revealed in a recent report by the Zhejiang Provincial Federation of Industry and Commerce.
The report highlights that about 60 percent of enterprises above the designated size are concentrated in the manufacturing sector.
As a crucial hub for China's automotive and motorcycle parts industry, Wenzhou is currently home to over 4,000 related enterprises. These businesses offer products spanning across 12 major categories and encompassing over 5,000 different series and varieties.
In addition, a common characteristic among Wenzhou's above-designated-size enterprises is their engagement in national and regional development strategies. While maintaining their core business, these enterprises consistently increase investments in innovation and have achieved significant leaps in development.
Wenzhou's above-designated-size enterprises are defined as those with an annual revenue (including main business and other income, both domestic and international) of 500 million yuan ($69.48 million) or more.