An aerial view of Yiwu. [Photo/WeChat account: yiwufb]

Yiwu in East China's Zhejiang province was home to an additional 180,600 market entities in 2022, local media reported.

The city currently has more than 900,000 market entities, accounting for 9 percent of Zhejiang's total and ranking first among county-level cities in the province.

Yiwu continued improving its business environment by carrying out business-related reforms last year.

Fifteen common business license-related maters involving food sales, restaurant management, and tobacco monopoly and retails can now be dealt with more efficiently.

Since 2018, people have been able to start a Chinese-invested enterprise with just one identity card in Yiwu, and since then the city has built the first intelligent enterprise registration system in Zhejiang.

Yiwu also offers free services such as business license delivery and official seal engraving, making online business license applications popular.

In addition, Yiwu market regulatory authorities also launched a three-year program last year to support small- and micro-sized companies in terms of tax reduction, business environment, talent cultivation, transformation, and upgrading.

To date, 7.42 billion yuan ($1.01 billion) in fees have been eliminated for nearly 2.36 million local businesses, and more than 2,000 individual businesses in the city have received unsecured loans valued at 850 million yuan.