Jinhua in Zhejiang province has in recent years placed significant emphasis on empowering its self-employed enterprises through a series of proactive measures.
For instance, the city has spearheaded the implementation of electronic registration reforms, aimed at reducing the barriers to entry for market entities and enhancing the overall convenience in handling administrative matters and certifications.
Additionally, local authorities have proactively responded to the needs and concerns of individual businesses by implementing numerous effective measures. They have been dedicated to fostering a fair competitive environment through the strict enforcement of relevant rules and regulations.
As of now, the total number of individual industrial and commercial households in the city has reached 1.29 million.
Individual businesses in Jinhua contribute to over 30 percent of urban labor employment, over 70 percent of business entities, over 80 percent of tertiary industry employees, and 90 percent of agricultural trade market and wholesale business entities.
Dubbed as a "World Supermarket", Yiwu International Trade Market is the most dynamic place for individual economy in Jinhua. It has a business area of over 6.4 million square meters, operating 26 major categories and 2.1 million individual products and maintaining trade relations with 233 countries and regions worldwide.
In 2023, market transaction volume reached 233.13 billion yuan ($32.39), an increase of 15.36 percent year-on-year.
