Wenzhou's Private Shoes Enterprises Accelerate the "Going Out" Step

From establishing an overseas commodity city, organizing a commodity display center, setting up overseas institutions, investing and setting up factories overseas, to acquiring overseas companies for mergers and acquisitions, overseas resource development, overseas listing and financing, and establishing overseas industrial parks, Wenzhou’s private shoe enterprises “going out” investment methods The trend of more diversification, wider investment areas and diversified investment fields has also led to a marked acceleration in the pace of “going out”. From January to June of this year, the city of Wenzhou has newly approved the establishment of 25 overseas institutions. The total investment of the Chinese side is 87,449,500 US dollars, and 90.2% of the annual investment tasks have been completed.

Chen Jian, deputy director of the Wenzhou Municipal Bureau of Foreign Trade and Economic Cooperation, introduced that since the beginning of this year, private enterprises in Wenzhou have made full use of the “two markets and two resources” at home and abroad and used various overseas investment methods to accelerate the pace of “going out”. Among them, there are several highlights that stand out. One is the acceleration of the implementation of large-scale overseas investment projects in mergers and acquisitions. For example, Yueqing Enterprise invested 21.15 million U.S. dollars in the overall acquisition of a company in France. Second, the overseas industrial park projects added new datum. Wenzhou Hashan Footwear Industry Co., Ltd. plans to build a footwear industrial park in Nigeria. The current project approval and other related work began. Third, the overseas commodity city gradually changed its business model. After many years of mature operation, Wenzhou City's overseas commodity city began to shift from a simple price advantage product output to a brand advantage product output, and the function of an overseas commodity city was consolidated. A few days ago, Wenzhou City, the first foreign excellent Wenzhou special product display center has been successfully opened in Malaysia. Recently, the "Wenzhou Famous Brand Shopping Center" in Los Angeles China Trade City is also actively investing in Wenzhou.

This year, the Wenzhou shoe company's "going out" support fund has increased from 6 million yuan last year to 17.5 million yuan. At the same time, the “Wenzhou City's 2010 “Going Global” Strategic Special Fund Use Management Measures” and “Wenzhou Overseas Marketing System Construction Financial Support Measures” will be issued to further increase the support for “going global” enterprises and projects.

In June this year, the Wenzhou Municipal Bureau of Foreign Trade and Economic Cooperation also conducted a comprehensive review of the “going global” status of the enterprises in Wenzhou City over the years, and conducted investigations on existing overseas agencies in accordance with normal operations, business suspension, and write-offs. The company classified the major industries, countries, regions, and methods of foreign investment, and made trend judgments on the “going out” development of Wenzhou in the next few years.

Since the beginning of this year, Wenzhou's private shoe companies are adept at using the opportunities of global industrial restructuring in the post-crisis era, investing overseas through various means, accelerating industrial transfer and seizing overseas markets. From January to June of this year, the city of Wenzhou has newly approved the establishment of 25 overseas institutions. The total investment of the Chinese side is 87,499,500 US dollars, and 90.20% of the annual investment tasks have been completed. According to Wenzhou Municipal Foreign Trade and Economic Cooperation Bureau, the next step is that Wenzhou will also launch a series of “Walk into Africa” activities and strive to establish this event as a major brand of investment and trade activities overseas in Wenzhou City.