Vigorous Wenzhou

“It is a city which is not only good at division of work but ready to make concerted efforts, a city which is meticulous about discerning questions of principle from minor issues and ever more able to throw a sprat to catch a mackerel, and a city which knows how to make something useful out of nothing. While creating wealth, it is shaping a vigorous economic mode. As a forerunner in China’s non-public economy, it clearly shows people the advantages of the non-public economic sector and the market.”
These are comments made about Wenzhou by the Review Committee of “CCTV’s Chinese Cities with the Most Vigorous Economies in 2004.”

During the exciting years of reform, Wenzhou ushered in a vigorous economic spring. Based on the spirit of “daring to be pioneers with special ability for starting businesses,” the Wenzhou people have shown to the rest of the world their vigorous life and renewed vitality.
Since the introduction of the reform and opening-up policies over two decades ago, Wenzhou has created a number of national firsts, and blazed a path of robust economic development.

In 1980, the first business license for an individually owned industrial and commercial business was issued in Wenzhou.
In 1980, interest rate reform was first implemented at the Jinxiang Town Credit Cooperative of Cangnan County.
In 1983, the “Top Oriental Button Market,” the Yongjia Qiaotou Button Market, was founded in Wenzhou.
In 1984, the first joint-equity cooperative enterprise in China, the Ouhai Mountaineering Boot Factory, was set up by 26 farmer-shareholders.
In 1984, the “First Farmers’ City” in China, Longgang Town in the suburbs of Wenzhou, was built with funds collected by local people.
In 1986, the first joint-stock urban credit cooperatives in China, the Lucheng and Dongfeng urban credit cooperatives, were set up with funds from collectives and individuals.
In 1987, the first local laws and regulations for non-public enterprises, the “Wenzhou Interim Administrative Procedures for Privately-owned Enterprises,” were promulgated.
In 1987, the first statute for a joint-stock cooperative system, the “Wenzhou Municipal Interim Regulations Concerning Rural Joint-equity Cooperative Enterprises,” was promulgated.
In 1988, the first constitution for a joint-equity cooperative enterprise, the “Regulations of the Qiaodunmen Brewery,” was drawn up.
In 1991, the first chartered airplane company was set up with capital pooled by farmers in Cangnan County.
In 1991, the first private transnational agricultural corporation, the Kanglong Agricultural Development Co., Ltd of the US State of Minnesota, was set up.
In 1992, the first joint-stock railway, the Jinhua-Wenzhou Railway, was constructed.
In 2003, the first victory in an anti-dumping case following China’s accession to the WTO was achieved by the Wenzhou Smoking Set Association.
In 2004, China’s first non-regional private financial group, Zhongrui Group Co., Ltd, was jointly organized by nine non-public enterprises.
In 2004 the Zhengtai Group of Wenzhou became the first non-public enterprise to win the “National Quality Control Prize,” China’s top award in business operation and management.