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Yiwu sees rapid development in cross-border e-commerce

chinadaily.com.cn| Updated :2022-03-01

The latest data shows that e-commerce transactions in Yiwu, a county-level city in East China's Zhejiang province, rose 10.02 percent year-on-year to 26.142 billion yuan ($4.138 billion) in January.

The city's cross-border e-commerce transactions stood at 7.907 billion yuan in January, up 7.89 percent from the year before.

Grace is an English-language livestream host who promotes popular groceries sold in the Yiwu International Trade Market to British netizens on the TikTok platform. She told local media reporters that the livestream sessions usually last four to six hours in the afternoons or evenings in light of the eight-hour time difference in Britain. 

It takes less than 48 hours for Yiwu merchants to ship out products ordered by British consumers on TikTok from domestic warehouses and around two weeks for them to be delivered. But the process will be significantly accelerated as Zhejiang China Commodities City Group, the State-controlled firm that runs the Yiwu International Trade Market, is rapidly building overseas warehouse across the globe.

More than 100 overseas warehouses have been established by the group so far, and in the near future, many Yiwu products will be made available in overseas warehouses, allowing for faster delivery.