Wenzhou's economy bolstered by further reform, innovation
- By Qin Qi
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E-mail China.org.cn, September 5, 2019
AoKang is one such company.
After inventing a tool that measures the shape of a foot in 2002, the company introduced an innovative customer-to-manufactory (C2M) mode to the shoe industry. In its C2M stores, a customer scan their feet using the measurement tool to order custom fit shoes, which would be delivered to them within weeks.
Now, the company is the largest shoe manufacturer in the city, and has been one of the top 500 private companies in China for nine consecutive years. Last year, it registered a revenue of over 19.5 billion yuan.
Talking about people of Wenzhou, Chen described them as "very innovative" and "dare to be the first." He said that the history of the city since the founding of the People's Republic of China, and since the country started implementing its reform and opening up policy in particular, has featured the hard work and innovation of private entrepreneurs and a growing and thriving private economy.
The total number of market entities in Wenzhou exceeds 1 million. Comparing that to the city's population, one out of nine Wenzhou resident owns a business, and there is one company for every 26 Wenzhou residents.
Chen said that, moving into the new era, Wenzhou still holds high the flag of the reform, while making bold and innovative moves on its path of development.
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