Yiwu unveils global expansion plan for 'Yiwu Market'

chinadaily.com.cn| Updated :2023-09-09


Foreign consumers place orders at the Yiwu International Trade Market in Yiwu, Zhejiang province, in May. QIAN XUSHENG/FOR CHINA DAILY

Yiwu officially launched its global expansion initiative for its small commodities trade, known as the "Yiwu Market" project, on Sept 5, which marked the first "Market Opening Day,"

The Yiwu International Trade Market was born on Sept 5, 1982. Over the years, it has undergone six relocations, 10 expansions, and five generations of transformation. It has earned prestigious titles such as "world's largest wholesale market for small commodities" from institutions like the United Nations and the World Bank.

"The global launch of this 'golden brand' holds immense significance for us merchants," said Liu Pingjuan, a merchant at the Yiwu International Trade Market.

"Many of my Southeast Asian customers will no longer need to come to Yiwu. They can view samples, select products, and place orders right in their own backyard. This greatly enhances the convenience of trade," Liu added.

Yiwu has established 210 overseas warehouses in 50 countries and regions, helping merchants explore international markets.

"The global expansion marks a departure from the past, when individual operators worked independently. Now, they work together to explore the path of collective development for Chinese brands on the international stage," said an authority with the municipal government.