Yiwu introduces new policy to attract foreign buyers and boost exports

chinadaily.com.cn| Updated :2023-03-30

The Zhejiang China Commodities City Group, which is the operator of the Yiwu International Trade Market, unveiled the "Regulations for Application of Rewards for Attracting Foreign Buyers" on March 27.

According to the regulations, applicants must meet the following conditions: enter China after April 1, 2023, be at least 18 years old, have an official record that shows they have been in the market for at least one day, and have not enjoyed the similar "Rewards for Attracting Buyers" policy launched by the market group in 2022.

The applicants for this round of rewards are third-party institutions or individuals such as market operators, business associations, foreign-related service organizations, foreign trade companies, and freight-forwarding companies.

For third-party organizations or individuals who organize foreign buyers or overseas Chinese merchant teams to conduct trade activities in Yiwu, a reward of 200 yuan ($29.03) will be given to each buyer, up to a maximum of 5,000 people, on a first-come, first-served basis.

The reward can be redeemed when foreign buyer groups from the same itinerary are verified to have at least 10 people. No reward will be given if there are fewer than 10 people or if they are not from the same itinerary.

According to official statistics, the number of invitation letters issued by the municipal foreign affairs office was 1,000 and the number of foreigners who reside in Yiwu was 10,000 since the beginning of this year.