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Yiwu products becoming global lifestyle staple

chinadaily.com.cn| Updated :2024-01-04


Yiwu small commodities can be seen everywhere on the streets of Europe. [Photo/tidenews.com]

Recent data reveals that from January to November 2023, Yiwu's total import and export value exceeded 500 billion yuan ($70.26 billion) for the first time, ultimately reaching a total of 522.1 billion yuan. Exports accounted for 461.6 billion yuan, consistently representing over 60 percent of the total trade value for several years.

Known as the world supermarket, Yiwu maintains trade relations with more than 230 countries and regions. More than 560,000 overseas merchants come to Yiwu annually for purchases, with more than 15,000 from over 100 countries and regions residing in the city.

In Spain, home to more than 200,000 resident Chinese, Chinese dime stores thrive in the streets of the capital Madrid, Barcelona and other cities. The price of a single item in these stores is generally 100 pesetas (70 cents).

"I can't live without these stores. I can buy almost anything I want there," said Armando, a restaurant owner in Barcelona. He can get everything he needs at the local Chinese dime store, a mere two-minute walk away.

According to data from the Spanish Retail Association, the number of Chinese dime stores has surpassed 18,000.

To ensure the smooth flow of Yiwu small commodities, the city, a crucial support point for the Belt and Road Initiative and the starting point of the new Silk Road, opened the Yixin'ou (Yiwu-Xinjiang-Europe) freight train in 2014. Madrid serves as endpoint for the route, with Duisburg as the largest transit station.