In a strategic move towards comprehensive urban revitalization, Wenzhou is positioning itself as a regional center in the future, drawing attention from prestigious educational institutions and driving innovation.
Efforts by the State Administration of Foreign Exchange (SAFE) to further facilitate cross-border investment and financing for technology-focused small and medium-sized enterprises and advance the opening up of the capital account will improve the competitiveness of the Chinese financial industry and aid in the country's high-quality economic growth, experts said.
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.
China issued a guideline on Wednesday for promoting the development of the private sector, signaling the latest push for supporting and reinvigorating a key sector in order to revive economic recovery amid downward pressures.
A recently-issued guideline containing a raft of detailed and concrete policy incentives aimed at maintaining China's foreign trade and optimizing trade structure comes at a critical time.
China's consumption scenarios of foreign trade have been constantly widened thanks to the development of digital technologies.
Walking in the "fashion shoe town," a planned 3.7-square-kilometer area in Lucheng district of Wenzhou, East China's Zhejiang Province.
The commerce bureau of Wenzhou in East China's Zhejiang province recently issued a guideline to accelerate the development of its open economy.
China is expected to make the country increasingly more attractive by ramping up efforts to stabilize the expectations of foreign investors, according to government officials and experts.