Pakistani businessman Ali Kamran on Thursday received the business license for his company set up in Yiwu, a bustling trade hub in east China's Zhejiang Province, with his firm becoming the 10,000th foreign-funded company registered in a city dubbed world's largest wholesale market for daily commodities.
With the registration of Kamran's company, named Yiwu Al-Wafia Business Consulting Information Co., Ltd., Yiwu reached a new milestone, now home to 10,000 foreign-invested entities from over 160 countries and regions.
Leading sources of investment include Yemen, China's Hong Kong Special Administrative Region, Iraq, India and Egypt, forming a layered and diverse global network.
"The efficiency was very high. It only took one day from submitting materials to receiving the license. China is a great place for trade, and I hope more foreign enterprises will invest in China and help bring more small commodities from Yiwu to the rest of the world," said Kamran.
Official data shows that Yiwu's 10,000 foreign-funded companies span 14 industries including trade, catering, and business services, with about 81 percent of the investment coming from Belt and Road countries and regions. In particular, the number of foreign-funded restaurants has surged nearly 50 percent in recent years.
In the first half of 2025 alone, foreign-owned restaurants in Yiwu served more than 3.2 million diners, up over 20 percent year on year, generating 365 million yuan (about 51 million U.S. dollars) in revenue and creating over 5,000 jobs.
"The government supports foreigners. Many enjoy doing business here. Yiwu is a wonderful place. I always say Yiwu is my second home," said Anas, a Syrian who operates a Syrian cuisine restaurant in the city.
In 2024, Yiwu registered 1,769 new foreign-funded companies, surpassing the provincial capital Hangzhou to take the top spot in Zhejiang Province.
Yiwu was also the first city in China to pilot reforms to the foreign capital registration system, cutting approval time from 15 days to just one and significantly streamlining the process for overseas investors.
"The significance of the leap from zero to 10,000 is more than a rise in number; it is a testament to the city and its era. Behind this level of foreign investment lies China's broader push to expand opening up, improve the business environment, and advance institutional openness at the local level. With strong national support, local governments have had the confidence in exploring boldly and achieving repeated breakthroughs and even leapfrogs in practice," said Lan Jianping, vice president of the Zhejiang Development Planning Institute.
Over 10,000 foreign-funded firms established in east China trade hub
