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A Provincial Public Overseas Warehouse Built by Wenzhou
【Fonts: Large Medium Small 【Source: Wenzhou·China 【Date: 2020.07.28】

It was learned from Wenzhou Municipal Bureau of Commerce on July 25th that the recently promulgated list of provincial public overseas warehouses in 2020 includes 5 warehouses in Zhejiang Province, among which one is from Wenzhou, i.e., Zemun Warehouse in Serbia of Wenzhou Foreign Trade Industrial Products Co., Ltd.

As a part of Zhejiang’s endeavor to “Sell quality Zhejiang’s products all over the world”, public overseas warehouses are committed to building a foreign trade cross-border service system that features global layout and domestic and overseas interaction. A number of overseas warehouses are to be built in key node markets in countries along the “Belt and Road” to guide enterprises to develop new markets and promote the development of foreign trade. So far, Wenzhou has two provincial public overseas warehouses and five municipal public overseas warehouses, which are invested and constructed by companies like Foreign Trade Industrial Products, Wenzhou Qiangbang International, KingYork International, Wenzhou Zixun Information Technology, and ChainNova North America.

Compared with traditional foreign trade, overseas warehouses are a new mode of trade, which allows export enterprises to send goods in bulk to foreign warehouses, thus expanding product categories, saving costs and reducing intermediate links. Such a mode of overseas warehouses realizes local sales and local distribution, greatly improving the competitiveness of cross-border e-commerce enterprises. Therefore, overseas warehouses will become an important platform and vehicle for the development of cross-border e-commerce. At present, overseas warehouses built and operated by enterprises in Wenzhou are distributed in 12 countries, such as Serbia, the U.K., the U.S. and Germany. Their total turnover last year reached $160 million, with the trading products covering bags, shoes and clothing, glasses, sporting goods, sanitary wares, auto parts, etc. China-India OTO wholesale mall overall e-commerce warehousing project of Wenzhou Qiangbang International Trade Co. Ltd., since the enterprise was provincially approved as the first one in Wenzhou to set up a public overseas warehouse in New Delhi in India, has served nearly 50 domestic enterprises, and revealed to more Wenzhouese companies the potential business opportunities of building overseas warehouses.

Since the outbreak of Covid-19, public overseas warehouses at all levels in Wenzhou have played an active role in stabilizing exports. When enterprises are encountered with difficulty in resuming work and production and the lack of goods caused by the interruption of transportation lines, the inventories in overseas warehouses make up for the market vacancy; when the global flight logistics is blocked, overseas warehouses provide a platform for exhibition and sales, enabling foreign merchants to directly place orders in overseas warehouses.

According to an official from Wenzhou Municipal Bureau of Commerce, in order to encourage enterprises to build public overseas warehouses, Wenzhou gives a reward of 500,000 yuan to each investor of the newly approved municipal cross-border e-commerce public overseas warehouses, and an extra 100,000 yuan is given to each investor of the public overseas warehouse pilots in countries along the “Belt and Road”.

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