Despite the pandemic's effect on trade and the economy, Yiwu has taken measures to help companies survive while keeping employment stable.

On Feb 16, shortly after the Spring Festival holiday, Yiwu released several new policies to help companies recruit employees and encourage their current employees to come back. Subsidies were provided to companies that sent chartered buses to ferry employees back to Yiwu. Individuals who went back to work by themselves also received financial incentives.

By March 10, chartered buses, high-speed trains and even planes helped Yiwu to pick up 130,000 workers from around China. More than 300,000 employees went back to work in Yiwu.

This year has been challenging for university graduates. Online recruitment events have been organized in Yiwu over the past few months to give graduates information about the local job market. In the first quarter of 2020, more than 9,800 university graduates visited Yiwu, almost double from previous years.

Yiwu's government also encouraged manufacturers to switch production and reallocate resources to produce products needed during the crisis.

Zhejiang Enchant Cosmetic, established in 1997, is a major manufacturer and exporter of cosmetic products in Yiwu.

The company's 18 production lines were shut down due to the epidemic. Enchant obtained a 13.5 million yuan ($1.9 million) special loan from financial companies in Yiwu and reconfigured its production lines to produce disinfectants. The company said its new products have been sold around the world. Some orders cannot be fulfilled until the end of this year.

To help more companies out of difficult situations, Yiwu has continuously adjusted its policies. In early March, Yiwu released a policy to help companies which need new loans, allowing them to postpone paying interest for up to two months. The policy has so far helped more than 10,000 small and micro-sized companies save 300 million yuan in interest.

Yiwu released another two preferential policies in April to help enterprises train employees and reduce their financial burdens. According to the local government, employees who take training courses will get an 800 yuan subsidy per month for up to three months from the Yiwu government.

Meanwhile, companies experiencing operating difficulties can only pay one-third of their bank loan interest in the second quarter. The remainder will be covered by banks and the Yiwu government.

Yiwu's efforts have generated positive results. By the end of April, Yiwu had more than 600,000 market entities, up 21.62 percent year-on-year and accounting for one-thirteenth of those in Zhejiang province.

Yiwu, a key player in the world's small commodity trade chain, is also playing an important role in supporting the global fights against the virus.

The China-Xinjiang-Europe freight train service, which was launched in Yiwu in 2014, has provided a new channel for the transportation of daily necessities and medical supplies to European countries amid the COVID-19 pandemic. As of May 15, 153 trips had been made by freight trains along the Yiwu-Xinjiang-Europe line in 2020, transporting 12,846 containers of goods.