Wenzhou, a city in Zhejiang province, recently secured approval for 44 significant science and technology projects aligning with Zhejiang's major initiatives, with 17 being led by local enterprises.
In a strategic move towards comprehensive urban revitalization, Wenzhou is positioning itself as a regional center in the future, drawing attention from prestigious educational institutions and driving innovation.
Efforts by the State Administration of Foreign Exchange (SAFE) to further facilitate cross-border investment and financing for technology-focused small and medium-sized enterprises and advance the opening up of the capital account will improve the competitiveness of the Chinese financial industry and aid in the country's high-quality economic growth, experts said.
In a bid to bolster its business environment, Wenzhou is pioneering a novel approach: empowering small and medium-sized private enterprises by adopting private services and leveraging social capital.
China issued a guideline on Wednesday for promoting the development of the private sector, signaling the latest push for supporting and reinvigorating a key sector in order to revive economic recovery amid downward pressures.
A recently-issued guideline containing a raft of detailed and concrete policy incentives aimed at maintaining China's foreign trade and optimizing trade structure comes at a critical time.
China's consumption scenarios of foreign trade have been constantly widened thanks to the development of digital technologies.
Walking in the "fashion shoe town," a planned 3.7-square-kilometer area in Lucheng district of Wenzhou, East China's Zhejiang Province.
The commerce bureau of Wenzhou in East China's Zhejiang province recently issued a guideline to accelerate the development of its open economy.
