Taizhou manufacturers connect with global buyers in Yiwu

Taizhou manufacturers talk with buyers from across the world. [Photo/Taizhou Daily]

More than 110 overseas buyers from over 20 countries met with more than 100 manufacturers from Taizhou, Jiangsu, at two business matchmaking events held at the Yiwu International Trade Market on Aug 20 and Sept 23.

The events resulted in six preliminary agreements totaling $10.3 million, opening new opportunities for Taizhou companies in overseas markets.

Demand is growing rapidly in emerging markets across Africa and the Middle East, as well as in countries participating in the Belt and Road Initiative. Taizhou's strengths in new energy, automotive and motorcycle parts, hardware and tools, photovoltaic and energy storage products, home goods, and healthcare products make its manufacturers well positioned to meet the needs of these markets.

For some companies, the results came sooner than expected. Sincodest, a company newly exploring cross-border sales of photovoltaic products, joined the first event to test the waters and left with a preliminary order.

The second event focused on five key sectors: auto parts, power machinery, home goods, healthcare products, and outdoor sports equipment. Buyers submitted their sourcing lists in advance, allowing organizers to identify suitable Taizhou manufacturers before the event and shift the process from manufacturers searching for buyers to buyers being connected directly with suppliers.

Support extended beyond the matchmaking sessions. Before the events, government departments, including those responsible for finance, taxation, customs and cross-border payments, provided on-site consultations on export tax rebates, customs procedures and international settlements.

Afterward, Taizhou's commerce authorities continued to follow up on potential partnerships, helping arrange factory visits and assisting companies with customs clearance, foreign exchange settlements and access to overseas warehousing resources.