The equipment manufacturing industry is one of the seven strategic emerging industries on which Zhejiang province is focusing. The city must cultivate and develop an advanced equipment manufacturing industry to achieve Yiwu’s goals of optimizing its industrial structure, improving its core competitiveness, and developing into a future city. It was also a strategic choice the city made in the hope of taking the lead in the future economy and scientific and technological development.

The city is concentrating on developing industrial clusters with the support of advantageous resources, competitive industries and key projects. It puts effort into the cluster development of finished automobile repacking and auto parts manufacturing. It aims to help the key auto parts industry to grow stronger, develop core auto products such as engines, bring in new products such as driving systems for new energy vehicles, and guide strong companies to expand from key auto parts manufacturing to vehicle manufacturing.

It also is focusing on bringing in leading enterprises and research institutes and attracting top companies to move their manufacturing bases to Yiwu. It is also encouraging major local seamless knitting and sock manufacturing enterprises to use their own resources and advantages to strengthen technological cooperation and thereby extend operations to an upstream industrial chain.