Yiwu authorities hosted a grand signing ceremony on March 30 for 20 major investment projects.

Yiwu, a county-level city in East China's Zhejiang province, is often dubbed "the world's capital of small commodities" as it is home to the world's largest wholesale market for accessories, zippers, socks, textiles, toys, and more.

Seven of the 20 projects involve photovoltaics, high-end equipment, software, and other industrial economy sectors and have received a combined total of 8 billion yuan ($1.22 billion) in investment. The other seven focus on the logistics sector in the city's free trade zone and are expected to increase imports by more than 10 billion yuan.

This year, 36 new projects receiving a combined 24.34 billion yuan in investment have broken ground and 12 new plants receiving 25.83 billion yuan in investment have initiated mass production in Yiwu.

JA Solar, a world-leading manufacturer of high-performance photovoltaic products, signed an investment agreement with the Yiwu government in March 2020 and began mass production of photovoltaic modules in the city in January of this year.