In response to the eager expectations of over half a million e-commerce entities in the city, the Yiwu Cross-border E-commerce Association was established on May 17.

According to the latest official statistics, as of the end of March, Yiwu boasted 500,600 registered e-commerce entities, more than 40 percent of which were engaged in cross-border trade.

The city achieved a 10.25 percent year-on-year increase in cross-border e-commerce transactions and a transaction volume of 38.58 billion yuan ($5.48 billion) from January to April.

By fortifying collaboration with cross-border e-commerce platforms and forums and salons, the association aspires to construct an all-encompassing service ecosystem. It endeavors to cultivate a propitious environment for the unhindered growth of cross-border e-commerce.

The association will also establish connections with overseas marketing channels and cross-border influencers, thereby encouraging prominent enterprises to establish their presence in Yiwu.