Zhejiang Chentian Dayou Supply Chains Management Co Ltd became the first franchisee to sign a cooperation agreement with Overseas Investment Development Co Ltd, which is a part of Zhejiang China Commodities City Group, to co-build overseas warehouses on Oct 23.

The agreement came after the Yiwu-based Zhejiang China Commodities City Group issued a request to partner with other companies to build overseas warehouses on Sept 28. So far, nearly 90 applications have been received, among which 16 have emerged as contenders.

These 16 companies will be able to build overseas warehouses in Indonesia, Kenya, Tanzania, Japan, the United States, Spain, and Poland. Zhejiang Chentian Dayou Supply Chains Management Co Ltd was the first company to begin building overseas warehouses for Yiwu.

This move is an effort by Yiwu to help foreign buyers who can't currently come to Yiwu due to the COVID-19 pandemic.

Zhejiang China Commodities City Group hopes the warehouses will facilitate direct purchases by foreign firms. So far, the group has established 15 overseas warehouses in 10 countries.

Zhejiang Chentian Dayou Supply Chains Management Co Ltd specializes in providing one-stop supply chain solutions and focuses on trade logistics in Africa.

According to one of its executives, the company owns over 10,000 square meters of warehouses in Kenya and Tanzania.

Overseas Investment Development Co Ltd plans to continue seeking more overseas warehouse partners in the future.

Source:http://yiwuzhejiang.chinadaily.com.cn/2020-11/02/c_560386.htm