News

Firsts in Wenzhou

(China Daily)
Updated: 2010-06-19 07:18

Beginning with the nation's era of reform and opening-up in 1978, the private economy of Wenzhou boomed, accelerating the city's economic development and led the way for China in several areas:

1980: Wenzhou issued the first privately or individually owned business license in China.

1983: Yongjiaqiaotou Button Market was found, known as the "first button market of the East".

1984: The first joint stock enterprise Ouhai Climbing-Shoe Factory was established by 26 peasant shareholders.

1987: The first local regulation for privately operated enterprises was issued in Wenzhou.

1987: The first local regulation of the joint stock system was issued, outlining the rules of joint stock cooperation in rural Wenzhou.

1991: The first national chartered service company was found in Wenzhou's Cangnan county, established under the joint stock system.

1992: Jinwen Railway, which is the first joint stock railway of China, was constructed in Wenzhou.

2004: The first Chinese non-territorial limited financial group, Zhongrui business group, was organized and found by eight State-owned enterprises.

2004: Zhengtai Enterprise won the top prize in management and operations, becoming the first private company to win this award in China.

2008: The first art forum of Wenzhou was officially opened.

2009: The forum focusing on Wenzhou people's characteristics opened.

(China Daily 06/19/2010 page12)