CFEN: TOKO brand is rapidly growing in 'Belt and Road' countries

 

"In the first ten months, China's total import and export of foreign trade reached 36 trillion yuan, up 5.2% year-on-year. China's export share in the global market has remained basically stable," said Wang Shouwen, the International Trade Representative and Vice Minister of Commerce of China, at a regular briefing on State Council policies held by the State Council Information Office recently. Since the beginning of this year, China's foreign trade has maintained its stable growth momentum with precise and effective measures to support enterprises with real money."-China Financial and Economic News, Nov-28,2024.

The screenshot above was the latest news report featuring an interview with TOKO CEO William Wu by China Financial and Economic Newspaper

"It's been a tough year, but it's taken the least effort to raise money. William Wu, managing director of TOKO Technology (Wuxi) Co., Ltd. (hereinafter referred to as TOKO Technology) expressed his heartfelt feelings. TOKO Technology is a company dedicated to producing various welding materials, welding equipment, and cutting tools. William Wu further explains the reason for "Not lack of money": On the one hand, tax preferential policies have benefited enterprises. For example, the policy of halving corporate income tax has saved the company a large amount of expenditure. On the other hand, financial support for small and micro enterprises has been continuously increased. "Take a loan of 10 million yuan as an example. We can enjoy a minimum preferential interest rate of 2.98% at the lowest, which is equivalent to saving hundreds of thousands of yuan in bank interest," said William Wu. In addition, administrative efficiency has been further improved. "All export tax rebates are processed through electronic declaration procedures, and generally do not take more than three days from submission to completion," William Wu said. The acceleration of capital recovery has alleviated the capital pressure to a certain extent. A series of policy support has ultimately saved the company hundreds of millions of yuan in cost expenditure.

"Therefore, we can allocate more energy to enhancing technology, product research and development, as well as marketing and sales, truly 'letting go' to pursue development," William Wu explained. In the first three quarters, the company's export volume increased by 32% compared to the same period last year. Currently, TOKO business has reached over 30 countries along the "Belt and Road," including Zambia, Ethiopia, and Mozambique etc.

The screenshot above was the latest news report featuring an interview with TOKO CEO William Wu by China Financial and Economic Newspaper

According to Tong Xuejun, head of the Department of Consular Affairs of the Ministry of Foreign Affairs, China has unilaterally implemented visa-free policies for 29 countries including France and Germany since last year. Nationals from these countries holding ordinary passports can enter China without visas for business, tourism, family visits, or transit stays not exceeding 15 days. To date, China has concluded visa exemption agreements with 157 countries and regions covering different types of passports. Foreign nationals can also take advantage of visa-free transit, visa-free cruise, and visa-free policies for specific regions such as Hainan Island to visit China for tourism or business activities.

Above data illustrates the significant growth in exports for TOKO brand during the year 2024

"Many foreign clients choose to conduct on-site inspections at our factory before signing cooperation agreements, and they usually come several times. Therefore, the convenience of visas is very important to us" said William Wu. In the past, it basically took a month for foreign clients to finalize their trip from the time they expressed their intention to inspect until they actually arrived. Now, they can arrive within less than a week, greatly accelerating the progress of cooperation.

The above report is published by Chenyi Zhao reporter of China Financial and Economic Newspaper.which founded on July 3, 1991, China Finance and Economics Newspaper is the only newspaper supervised by the Ministry of Finance of the People's Republic of China. More report please refer to the official website of China Finance and Economics News from http://114.118.9.73/epaper/ 。

  

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