A total of 177,600 new business entities were registered in Yiwu, a county-level city in Jinhua, Zhejiang province, from January to July this year, marking a 28.66 percent year-on-year increase, according to the Yiwu market supervision bureau.

Among these, 1,330 were foreign-funded enterprises. The top three industries for new registrations were wholesale and retail, with 144,600 entities representing 81.42 percent of the total; manufacturing with 8,500 entities; and leasing and business services with 5,900 entities. Notably, new e-commerce entities reached 142,900, making up 80.48 percent of the total.

In recent years, Yiwu's continually improving e-commerce ecosystem and logistics infrastructure have lowered the barriers to entrepreneurship, attracting a wave of young entrepreneurs. The rapid growth of live-streaming and cross-border e-commerce has also offered ample opportunities.

Since the beginning of the year, the Yiwu market supervision bureau has worked to streamline processes for opening restaurants, updating business information, deregistration, relocation, and transforming individual businesses into companies, improving satisfaction among businesses and the public.

As of the end of July, Yiwu's total number of business entities reached about 1.31 million, ranking first among county-level regions nationwide.