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Wenzhou Coastal Development Area

Wenzhou Coastal Development Area

Wenzhou is found in the southeastern part of the province of Zhenjiang, it is a large port at the Yellow Sea, it is a great business destination recognized at an international level and quite famous for its rich culture and developed handcraft industry. Foreign entrepreneurs wanting to start a business in Wenzhou Coastal Development Area can get in touch with our team of company formation specialists in China and ask for support and assistance in matters of company registration.

Facts about Wenzhou Coastal Development Area

Yongjia was the former name of Wenzhou and was known as an important trading port in China, the same features being appreciated today in the business field. Here are some facts, numbers and figures about Wenzhou Coastal Development Area:

  1. It is one of the largest provinces of the coastal area of China, with approximately 12,255 square km in land.
  2. There are more than 9 million residents living in Wenzhou province.
  3. Wenzhou is the 15th largest port in China.
  4. The GPD registered in 2018 was RMB 600.6 billion.

The tea exports back in the 18th century made Wenzhou one of the most famous Chinese provinces in the world and large business destinations of those times. Today, there are huge investment opportunities in the trading sector, tourism, IT and telecommunication, automotive, manufacturing and many more. International investors have the possibility of opening WFOEs in China and have complete ownership in their company in Wenzhou Coastal Development Area. If you are interested in doing business in China, you can talk to one of our company formation agents in China and ask for support in this matter.

Districts and business in Wenzhou

Lucheng District, Rui’an City, Longwan District, Ouhai District, Yueqing city, Dongtou District, Yongjia County, Taishun County, Pingyang County, Wencheng County and Cangnan County are the 11 districts that form the Wenzhou Coastal Development Area, one of the appreciated business destinations in China. Wenzhou is known for the export of paper, tea, wine, and Alunite (a non-metallic mineral highly used in China and abroad as a fertilizer). In terms of thriving industries, Wenzhou produces power supply, electrical machinery, textile and garment, leather products, plastic manufacturing, chemical and metal products in a large percent and destined to local and international consumption. Above all, Wenzhou is home to large international companies that have branches and subsidiaries in the province and that address to local and foreign clientele. 

Industrial zones in Wenzhou

Here is information about the industrial zones in Wenzhou:

  • Wenzhou Economic & Technological Development Zone was formed in 1992 and it is home to companies dealing with the production of electrical equipment, textiles, construction and building materials, medicines and pharmaceuticals, chemicals and many more;
  • Wenzhou Oujiang River Estuary Industrial Zone is the second development zone where companies deal with logistics activities, smart manufacturing, petrochemical industry, electronics, as well as tourism;
  • the number of tourism agencies and tour operators is big and there are numerous entrepreneurs who see the touristic potential in Wenzhou and decide to develop such businesses and address to both local and foreign customers;
  • the good news is that the registration of a company in China, including in Wenzhou is not complicated when it comes to documents, licenses and permits, the whole process allowing foreigners to start their operations within a few days.

You may talk to one of our company formation agents in China and find out more about how to start a business in China and about the formalities for opening a WFOE in Wenzhou.

Why start a business in Wenzhou

Wenzhou addresses to private investors and considered relatively an autonomous province that develops without connecting to the political and economic stages in China. It other words, it enjoys a large percent of independence when it comes to business development in Wenzhou. There are numerous business opportunities in the real estate sector in Wenzhou, so it is quite easy to start a rental company or a construction firm in one of the major cities. Wenzhou is considered having the most active and highly developed private economy in China, hosting numerous entrepreneurs oriented to family business in many important sectors. You can start a family farm, a tourism agency, a manufacturing company, a renewable energy company, an import and export company without harsh conditions involved.

We kindly invite you to contact our team of company formation representatives in China and find out more about the support we can offer for opening a company in Wenzhou Coastal Development Area.