Foreign-funded business entities exceed 10,000 in east China trade hub

Pakistani businessman Ali Kamran receives the business license on July 31, 2025 for his company set up in Yiwu, east China's Zhejiang Province, with his firm becoming the 10,000th foreign-funded company registered in the city. (Xinhua)

HANGZHOU, Aug. 1 (Xinhua) -- Pakistani businessman Ali Kamran on Thursday received the business license for his company set up in Yiwu, a bustling trade center in east China's Zhejiang Province, with his firm becoming the 10,000th foreign-funded company registered in a city dubbed the "world's supermarket."

With the establishment of Kamran's company, named Yiwu Al-Wafia Business Consulting Information Co., Ltd., Yiwu marked a milestone with 10,000 entities from over 160 countries and regions -- led by Yemen, China's Hong Kong Special Administrative Region, Iraq, India and Egypt, forming a multi-tiered global investment network there.

This city now enjoys full authority to register all types of foreign-funded business entities, making it one of China's county-level regions with the most comprehensive range of foreign business registration types.

Last year alone, Yiwu recorded 1,769 new foreign-funded entities, surpassing the capital city of Hangzhou to rank first in Zhejiang Province.

Yiwu was the first city in the country to pilot reform of the foreign capital registration system -- streamlining the procedure and slashing the waiting time from 15 days to just one day.

With the sharp influx of foreign visitors and businesses, the number of foreign-funded restaurants in Yiwu has surged over 50 percent in the past three years, offering cuisine from 45 countries and regions. Gourmet foods from Turkiye and Russia have become the latest trending flavors in Yiwu.

Official data shows that Yiwu's foreign-owned restaurants attracted more than 3.2 million diners in the first half of 2025, marking a year-on-year increase of over 20 percent and generating total revenue of 365 million yuan (about 51 million U.S. dollars) -- while creating employment for more than 5,000 people.

"Yiwu's superior business environment and dynamic market vitality underline that China is not only an ideal global business hub but also a livable and workable community -- showcasing the nation's resolute commitment and tangible achievements in advancing high-level opening up," said Chen Jianwei, a professor at the University of International Business and Economics.