Yiwu, a city in East China's Zhejiang province, has made strong progress in foreign trade amid the COVID-19 pandemic.

Statistics show that Yiwu recorded 200.15 billion yuan ($29.96 billion) in imports and exports from January to August, an increase of 4.4 percent year-on-year. Exports were valued at 192.51 billion yuan, an increase of 3.8 percent year-on-year, three percentage points higher than the national average.

From January to September, contracted foreign investment in Yiwu was registered at $368.73 million, a year-on-year increase of 34.16 percent. Actually-utilized foreign investment in the city during the same period was valued $127.8 million, a year-on-year increase of 38.4 percent.

China Railway Express runs its first freight train between China's Yiwu, Zhejiang province, and London. [Photo/chinadaily.com.cn]

This year has been a milestone for Yiwu in its quest to open up to the outside world. In March, the Yiwu Comprehensive Bonded Zone was approved and established, accelerating the development of China's first digital comprehensive bonded zone.

In September, Yiwu became a part of the Zhejiang Pilot Free Trade Zone, injecting new impetus into its foreign trade growth.

The city is currently working to attract buyers from around the world by setting up task forces and overseas liaison offices and by teaming up with international chambers.

In June, Yiwu signed a cooperation deal with ZTO Express (Hong Kong) to co-build a supply chain innovation center, which has attracted more than $700 million in investment.

So far, Yiwu has attracted over 4,000 foreign-funded trade companies, more than any other city in Zhejiang province.

Source:http://yiwuzhejiang.chinadaily.com.cn/2020-10/20/c_552047.htm