A hostess conducts a livestreaming sale in Yiwu. [Photo/Yiwu Media Convergence Center]

Yiwu recorded a 10.9 percent year-on-year increase in online retail sales, amounting to a 59.91 billion yuan ($8.5 billion) in the first four months of the year, local media reported on May 26.

The remarkable figures underscore the unyielding dynamism of Yiwu and testify to the concerted efforts of local authorities in nurturing and fostering the growth of this strategic and pioneering sector.

Drawing on its rich experience and success, Yiwu has been steadfast in its pursuit of innovation and expansion within the realms of cross-border and livestreaming e-commerce.

The city has actively courted and welcomed key players in the industry.

Hosting commercialization bases for leading platforms such as Douyin and Kuaishou, Yiwu has developed 222 e-commerce villages, 13 e-commerce towns, and 95 provincial-level demonstration villages.

Yiwu has also established associations dedicated to domestic and cross-border e-commerce. These associations have facilitated the seamless exchange of ideas, resources, and expertise, creating a vibrant ecosystem that nurtures innovation, fosters growth, and propels the industry.

The Yiwu government regularly organizes theme-sharing sessions, offering a platform for industry insiders to delve into emerging trends and cutting-edge technologies that define the future of livestreaming e-commerce and its associated sectors.