Home>Biz Updates

Foreigners offer helping hand to world trade in Yiwu

(ezhejiang.gov.cn) Updated : 2017-04-21

1.jpg

A Jordanian businessman talks with Chinese merchants at the mediation office in Yiwu, Zhejiang province on April 18. [Photo by Lyu Shuai/Xinhua]

The world's leading small commodities market, Yiwu city in Zhejiang province, has a special mediation commission for commercial disputes involving foreign businesses.

From a total 15,000 international residents from more than 100 countries and regions, the city selected 22 as mediators to help tackle trade disputes. They are all volunteers and passionate about their work.

The organization, which asks foreign people to mediate conflicts between Chinese and international merchants, is using a new way to facilitate foreign trade in Yiwu and has gained good outcomes since it was established in 2013. Over 300 disputes have been settled so far, a success rate of more than 95 percent.

The commission also provides mediators, most of who do businesses in Zhejiang, with a platform for learning more about China's laws and regulations. "I feel proud of being a member of the commission," said a Pakistani mediator. "Though we don't have salaries from the job, we make our contribution to the world's trade."

The Yiwu government is considering setting up a special mediation system for people from countries along the route of the Belt and Road Initiative, which would further promote harmony in the local market.

1 2 3 ... 6 >