Yiwu home to more than 10,000 foreign-funded business entities

Pakistani merchant Ali Kamran poses for a photo with the business license of his newly established company in Yiwu, east China's Zhejiang province, July 31, 2025. (Photo/Qian Xusheng)

Nestled in Zhejiang Province, East China, Yiwu is a dynamic county-level city often celebrated as the "world's supermarket," boasting over 80,000 shops. Beyond its commercial prowess, Yiwu has evolved into a vibrant stage attracting entrepreneurs from across the globe.

Here, a Pakistani doctoral student in medicine has crossed into business to launch a consulting firm; a Turkish investor has founded three companies over the past decade and continues to grow his foreign trade; and a Syrian trader has opened two specialty restaurants. These are just a few of the vivid investment stories unfolding in this dynamic international hub. These are just a few examples of the thriving investment stories unfolding in Yiwu.

Yiwu's journey as an international marketplace began in the late 1980s with the arrival of its first foreign-funded business. Since then, the city has consistently deepened reforms and expanded its openness. By fostering a market-oriented, law-based, and internationalized business environment, Yiwu has attracted global resources and talent. Today, more than 10,000 foreign-funded business entities from over 160 countries and regions are operating in Yiwu, spanning 14 sectors, including trade services and modern logistics.

Ali Kamran, born in Pakistan, came to China in 2007 to pursue his studies, and has lived in China ever since. In July 2023, he began doctoral studies in medicine at the International School of Medicine at Zhejiang University in Yiwu.

"Once people knew I was in Yiwu, my phone practically became a consultation hotline," he recalled. Friends kept reaching out with the same question—which markets offered the broadest range of suppliers, how to get started in cross-border e-commerce, and where to find reliable logistics partners. It didn't take long for him to realize that behind the constant inquiries lay a genuine business opportunity.

Foreigners negotiate with a Chinese merchant over a ski equipment purchase at the Yiwu International Trade Market in Yiwu, east China's Zhejiang province. (Photo/Shi Bufa)

In July last year, he established a consulting firm, which became the 10,000th foreign-funded business entity in Yiwu. "I didn't expect to get my business license so quickly. It's incredibly convenient to do business in Yiwu," said Kamran.

Positioned as a trade service platform rooted in Yiwu and connecting China and Pakistan, the company provides "one-stop Yiwu sourcing solutions" for buyers from the Middle East and Africa, while also helping Yiwu merchants expand into overseas markets.

In Kamran's view, Yiwu is not only an ideal place to do business but also a livable city. With a "foreign citizen card," foreign merchants can enjoy multiple services in the city freely. Yiwu also issues vocational competency certificates for foreign professionals, so as to broaden employment channels. Government service centers in the city offer multilingual services, which makes it more convenient for foreigners. Together, these measures enable foreign entrepreneurs to settle down and thrive in Yiwu.

As part of its latest comprehensive reform efforts, Yiwu has implemented a series of innovative service measures to further empower and support foreign-funded businesses, ensuring their sustained growth and success.

In 2023, Anas from Turkiye, partnering with local entrepreneur Xu Hangfei, established Yiwu Jintai Trading Co., Ltd. in Fotang township, which focuses on cross-border apparel trade. It was the third business founded by Anas in Yiwu.

Over more than a decade of entrepreneurship in the city, Anas has built a stable client base in Middle Eastern markets. As his business continues to grow, he has also felt firsthand the convenience brought by institutional innovation.

"Previously, due to the diverse range of small-volume exports we handled, a single container might contain over 10 different types of products," said Anas.

Thanks to the implementation of the market procurement trade method in Yiwu, companies can now opt for a simplified declaration when exporting more than five categories of goods. This allows multiple types of products to be consolidated into a single container, meeting the foreign trade needs of small and medium-sized enterprises for small batches, frequent shipments, and diverse goods.

"This reform has significantly improved the efficiency of export procedures and made business operations much smoother," he added.

Xiao An from Syria, who has been living in Yiwu for 17 years, runs a restaurant in the city's Binwang commercial district. The Syrian has witnessed an increasing number of foreigners coming to the city for business opportunities.

Foreign merchants negotiate over purchase deals at the Yiwu International Expo Center, Yiwu, east China's Zhejiang province. (Photo/Chen Ye)

As global traders gather and settle in Yiwu, the number of foreign-funded catering businesses in the city has grown by an average of 20 percent annually over the past three years. Recognizing this upward trend, Xiao An shifted his focus from cosmetics trade to the restaurant industry.

In 2024, Xiao An opened the restaurant, allowing more foreign entrepreneurs working in the city to enjoy Syrian flavors.

"Yiwu offers growing opportunities, and doing business here is becoming easier and more accessible," the restaurant owner said. When registering the restaurant, Xiao An submitted an application in the morning and received the business license the same afternoon—efficient services that significantly lowered barriers to starting a business.

Since its opening, Xiao An's restaurant has been a great success, attracting large crowds and serving over 2,000 customers daily during peak holiday periods. "In February 2025, I opened my second outlet in Yiwu," Xiao An said. Inspired by its strong reception, Xiao An now aims to expand beyond Yiwu and establish more restaurants in other Chinese cities. "Growing my roots here in Yiwu gives me even greater confidence for what lies ahead," he told People's Daily.

From being known primarily for small commodities to becoming the "world's supermarket" hosting more than 10,000 foreign-funded business entities, Yiwu continues to embrace the global market with an open and inclusive posture, attracting investors from around the world.