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Yiwu Owns Most Foreign Partnership Enterprises in Zhejiang

Hits:  UpdateTime:2010-12-03 06:12:20  【Printing】  【Close

Number of foreign partnership enterprises in Yiwu accounts for 90% of the province's total.

Since the implementation of the Foreign Partnership Enterprises Registration Regulation on March 1, the foreign partnership enterprises in Yiwu have been growing rapidly. The statistics issued by Yiwu administration for industry and commerce show that 15 foreign partnership enterprises in Yiwu have registered in the past 8 months as of November 18, which take up 8 8.2% of the province’s total. These 15 enterprises have a registered capital of 5.96 million yuan and cover various fields such as daily goods wholesale, beauty & hair dressing, food retailing and commodity information services. At present Yiwu owns most foreign partnership enterprises in China.

Lin Ailin, a Malaysian, has been doing foreign trade in Yiwu for 7 years. On October 29 this year "Fuyantang Food Firm" was registered in the competent department of Yiwu. She sells edible bird’s nest from Malaysia in the imported commodities mall of the International Trade Mart with a Malaysian partner.

"Our business has just got started and we have applied to bank for a POS machine," Lin said. In the past her business was limited for the lack of the subject qualification but now she has set up a foreign partnership enterprise supported by the policy. She said that this enterprise lays a sound foundation for the branding, large scale operation and standardization of her business and it is more convenient to do business in the future.

Yiwu Youse Trade Company is a partnership enterprise set up in August by foreign and Chinese natural persons. And the foreign natural person is Ahmed from Egypt. He said that his trade desire had been aroused by many daily goods made in China in Egypt. But when he came to China he found the foreign agency could do nothing but consultation and market survey. "The commodities in Yiwu are wide in variety and low in price, and the opportunities are numerous but we couldn't do export in the past. But now we own our partnership enterprises and are eligible to do export trade," he added. Currently his clients are from Egypt, Kuwait, Syria, etc.

"As a new form of subject, the foreign partnership enterprise has a low threshold and few conditions and it satisfies the urgent demands of foreign natural person,” said a person in charge of the industry and commerce department. Presently over 10,000 foreign residents and many agencies have a strong desire to do business and more and more foreign natural persons and agencies pay attention to the relevant information about foreign partnership enterprise. Besides, the further improvement of policies provides a better chance for the development of foreign partnership enterprises.

Source: China Commodity City

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