A merchant holds his business license. [Photo/zgyww.cn]

The Yiwu market supervision bureau reported that over 50,000 new market entities were established in the city in the first quarter of 2024, representing 14 percent of the Zhejiang provincial total and 62 percent of Jinhua's.

This surge, second only to Hangzhou in the province, set a new record with 1,731 entities registered in a single day. Among these, 291 were foreign-funded enterprises, marking a 22.27 percent increase compared to last year and bring the total number of foreign-funded entities to 8,428, or 16.16 percent of the provincial total.

The Yiwu market supervision bureau has been diligently making improvements to the business environment, leading to the cultivation of many market entities in the first quarter.

Yiwu currently boasts a total of 1.08 million market entities, a 15 percent increase from last year. Among these, 300,000 are enterprises, accounting for 28 percent of the total, and 780,000 are individual businesses, making up 72 percent.

Efforts to enhance the business environment have included the implementation of digital convenience measures and a comprehensive service package for market entities, aiming to support their high-quality development. Additionally, initiatives have been launched to promote entrepreneurship, including tailored assistance for individual businesses in key sectors such as markets, foreign trade, e-commerce, and livestreaming.