Wuxi brings economic benefits to the world

Updated : 2024-03-23
(en.wuxi.gov.cn)

The Wuxi International Economic and Trade Cooperation Meeting is held in Wuxi on March 20. [Photo provided to chinadaily.com.cn]

The Wuxi International Economic and Trade Cooperation Meeting took place in Wuxi on March 20 in a bid to facilitate exchanges between local cross-border e-commerce enterprises and foreign governments and businesses.

Nearly 130 representatives of government agencies, businesses, and associations including Anyin Choo, Guyana’s ambassador to China, participated in the conference, during which seven institutions, enterprises, and cities gave presentations.

Attendees of the Wuxi International Economic and Trade Cooperation Meeting. [Photo provided to chinadaily.com.cn]

Victor Mata, secretary-general of the Government of Puebla City, Mexico, noted in an interview during the meeting that Wuxi has a very friendly business environment.

He also expressed his delight at learning that the local community is very open to future cooperation opportunities with other countries.

Attendees talk with each other during the meeting. [Photo provided to chinadaily.com.cn]

Wuxi was approved to pilot cross-border e-commerce businesses in 2018 and, being a city dominated by the manufacturing industry, boasts a unique industrial edge in the field, noted Wang Xiaohong, executive director of the Wuxi E-commerce Association, at the meeting.

According to Wang, in 2023, the city’s cross-border e-commerce enterprises traded over $10 billion, a staggering increase of 135.9 percent year-on-year.

By exempting import licenses and customs duties, and reducing consumption tax by 70 percent, China’s cross-border e-commerce import system is suitable for high-quality products entering the market for the first time.

Wang welcomed superior products from other countries to enter Wuxi and East China and she also welcomed foreign supply chain businesses to promote Wuxi-made products overseas.