Chinese Coastal City Yuyao Thrives In Businesses, Social Development

KUALA LUMPUR, Nov 1 (Bernama) -- An event focused on empowering business operations and development through Chinese traditional philosophy was held in Yuyao, located in the eastern province of Zhejiang, China, on Oct 30.

The event aimed to shed light on the path forward for businesses and even social development in the midst of changing circumstances.

Yuyao is a city that may not be familiar to many foreigners, but as Christmas approaches, those soft and sparkling Christmas lights, and even the air fryers, air ovens, grills, and other kitchen appliances used to prepare delicious meals at home, have a good chance of being produced in Yuyao.

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In addition to being the location of the world's largest and earliest discovered rice fields, as well as the site of the Hemudu archaeological ruins with a history of around 7,000 years, Yuyao is also a strong player in foreign trade.

According to the Yuyao Municipal People's Government in a statement, from January to August, the total value of foreign trade imports and exports reached 71.16 billion Chinese yuan, representing a year-on-year increase of 11.7 per cent. (100 Chinese yuan = RM61.51)

Among them, exports amounted to 54.82 billion Chinese yuan, up 8.5 per cent over the same period one year ago, while imports reached 16.34 billion Chinese yuan, spiking 23.8 per cent year on year.

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As one of China's three major export bases for household appliances, Yuyao continuously sends affordable and high-quality Chinese-made products such as vacuum cleaners and irons overseas, serving at consumers' homes worldwide.

The confidence of Yuyao's products embracing the world is closely tied to its developed county-level economy. As one of China's top 100 counties in terms of county-level economy, Yuyao boasts a gross domestic product (GDP) of over 150 billion Chinese yuan.

With its strong industrial economic foundation and continuous industrial upgrading, it has consistently ranked among the top tier of the country's top 100 industrial counties.

Today, Yuyao is leveraging the development of major platforms such as the Sino-Italian Ningbo Ecological Park, Zhejiang Yuyao Entrepreneurship Park, Intelligent Optoelectronics Town, Robot Valley, Yuyao Economic Development Zone, and Yuyao Industrial Park to accelerate industrial transformation and upgrading.

-- BERNAMA