Yiwu, East China's Zhejiang province, is taking significant action to offset the impact of the COVID-19 outbreak to its economy and write a new chapter of high-quality development.

The city's efforts made in both normalizing epidemic prevention and control and promoting economic and social development have achieved initial successes.

From January to April this year, the output value achieved by Yiwu's industrial enterprises above designated scale－with an annual sales revenue surpassing 20 million yuan ($2.99 million) - is 16.67 billion yuan.

The output value and sales value of the city's industrial enterprises increased by 8.3 percent and 0.9 percent in April, according to the local government.

In addition, Yiwu attaches great importance to expanding overseas markets and developing the digital economy in hopes of forging new drivers of economic growth.

The global coronavirus outbreak has led to a sharp decline in demand. Yiwu has seen some of its foreign orders delayed or canceled.

To cope with the situation, the city is making use of its existing overseas warehouses and exhibition halls to allow foreign buyers to see samples and purchase commodities directly.

Yiwu has already shipped 10,000 stock-keeping units of goods so far this year to its warehouses in the Czech Republic, Dubai and Rwanda.

The city is scheduled to establish seven more exhibition halls in countries including Germany, Japan, Spain, South Korea and Dubai this year.

With the development of big data, artificial intelligence and 5G technologies, Yiwu is pressing ahead with the digital reform of trade modes.