YiWu-China: A Sea of Commodities, A Paradise for Shoppers

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YiWu-China: A Sea of Commodities, A Paradise for Shoppers


Located in the subtropical monsoon climate zone, Yiwu has four distinct seasons, enjoying mild and humid climate, with annual average temperature 17 degree. Yiwu is located in the center of Zhejiang Province, covering a total area of 1,105 km2. It has 7 boroughs and 6 towns under its jurisdiction with a total population of 1.6 million, including 680,000 local population, 750,000 non-native population and about 200,000 floating population.

It was set up in the 25th year of King Qin (222 B.C.) and named as Wushang Country until 624A.D., and transformed to Yiwu Municipality in 1998. On this rich land, talents were born generation after generation, such as Luo Binwang; Zhu Danxi, one of the four famous doctors in Jin & Yuan Period; as well as Chen Wangdao, a contemporary educationalist; Feng Xuefeng, a theorian of literature and arts; Wu Han, a famous historian, etc.

Yiwu boasts advantages geographical location-in the center of Zhejiang Province, neighbored by Guangdong and Fujian to the south, Shanghai, the economic zone, to the north, facing the Pacific, the golden channel, Ningbo, the largest eastern port, to the east. It is only 300km away from Shanghai, one of the largest cities in China and 120km away from Hangzhou, the capital city of Zhejiang Province.

New Market

Developing with dependence on the market, Yiwu is reputed a Sea of Commodities and A Paradise for Shoppers.

Yiwu features the largest market of consumer goods in the world, which covers a total business area of 2.6 million km2 with 50,000 booths and 200,000 business people.

It gathers 320,000 kinds of goods in 1,502 categories of 34 industries, and its daily visit is over 200,000 person-times. (Note: The statistics published by the United Nations show there are totally 500,000 kinds of goods throughout the world).

The products here have been sold to 206 countries and regions with an export of over 1,000 standard containers everyday, resulting in over 55% of the countries is foreign-oriented.

It has become the international circulation center and information center of consumer goods and the export base of light industry products in China.

Its trade volume ranks the top for 14 successive years since 1991 in specialized markets in the country and won the unique honor of “Value Quality, Honor Credibility” from General Administration of Quality Supervision, Inspection and Quarantine.

Energetically create a new modern and international market

Yiwu International Trade Mart is a modernized market built out of brand-new concepts to satisfy the demand of internationalization of the market. The construction of the first phase was finished in October 2002. Its total floor area covers 340,000 km2 with 9,000-odd booths mainly selling ornaments, flowers, handcrafts and toys. The floor area of the second phase covers 1 million km2 with 13,000 booths, of which the area of 600,000 km2 was first completed in October, 2004, mainly selling hardware, electric appliances, electronic appliances, suitcase & bags, watches & clocks and rain gear. The second phase will be finished and put into use in October, 2005. The investment of the first and second phases adds up to 6 billion yuan. Over 90% of the business transactions are engaged in foreign trade.

The first and second phases of the Trade Mart, designed out of the advanced concept of the international mall, feature excellent equipment. It has procurement center, outlet center, e-commerce center and shopping center for tourists. Available in the neighborhood of the Trade Mart are services on customs, finance, catering, storage, logistics and accommodation. Another feature is that automobiles can enter every floor. Therefore, Yiwu International Trade Mart is of the highest level of modernization, internationalization in the country.

Construct the new platform for markets by digitized trading

Since 2003, Yiwu government has energetically promoted the innovation in the way of trading to accelerate building the intangible market while building the tangible market. Such ways as E-trading have been developed. At present, Yiwu government has invested over 10 million yuan in building a website for China Commodity Digital City with more than 20,000 traders doing business on Internet. Web exhibition and online negotiation begin to be accepted. New development has been seen in the chain delivering and the international cargo transportation. And the trading means and ways of operation become more modernized.

Yiwu – the most potentialized conference & Exhibition City in China

Yiwu has held 24 various exhibitions and 10 national conferences in 2004. 15 of national-level trade organizations and domestic & international famous exhibition organizations have already run exhibition in Yiwu.

With the approval of the State Council, sponsored by National Ministry of Commerce, People’s Government of Zhejiang Province, China Council for the Promotion of International Trade (CCPIT), etc. Yiwu has successfully held China Yiwu International Commodities Fairs ( Yiwu Fair for short) ten times in succession. 2004 China Yiwu International Commodities Fair had 3000 booths of international standards and attracted 1700 enterprises and 82,667 professional businessmen from 142 countries and regions, including 12,312 foreign businessmen. The number of the foreign businessmen ranked the 3rd among domestic economic and trade fairs. The order volume was 7.43 billion yuan, among which export volume accounted for 62.9%.

China Yiwu International Commodities Fair has created wonder in regional conference and exhibition in China. At the Annual Conference of China’s Conference and Exhibition Industry, Yiwu was awarded the honor of the most potentialized conference and exhibition city and ‘2004 China’s Top 10 Exhibition Cities of Most Glamour in China.

New Yiwu

In recent years, Yiwu has persisted in its development strategy of building the city on commerce. The economy and society has kept the rapid development momentum all the time by energetically propelling the internationalization of economy, the urban modernization and the integration of urban and rural areas.

In 2004, its GDP reached 28.2 billion yuan, a 17.3% increase of that in last year.

According to the statistics of 2003, its total fiscal revenue reached 2.95 billion yuan (local, 1.51 billion), 28% and 27.1% of increase respectively; its saving deposit was 48.277 billion and loans 30.609 billion, increasing by 8.778 billion yuan and 4.669 billion yuan, respectively compared with the beginning of the year; disposable income of urban residents 17,153 yuan per capita and net income of farmer 6,969 yuan per capita.

Yiwu has again ranked the 17th among the top 100 country in 2003.

Yiwu was chosen as the most popular city of China by the public at home and abroad in 2004, ranking the first place among the county-level cities of the whole country.

Energetically promote internationalization and open economy

In 2004, the import and export volume in Yiwu amounted to US$980 million, export drawback US$660 million, self-export volume US$870 million, actual foreign investment US$120 million and economic foreign- orientation accounted for 27.1% and export-orientation economy 24.9%.

Over 6,000 foreign business people from 100 countries purchase goods in Yiwu throughout the year. Foreign passengers exceed 40% of Yiwu Civil Airport transports. 496 foreign enterprises set up authorized offices in Yiwu, 205 more than last year’s, accounting for 1/3 of that of Zhejiang province. Foreign clients opened 7,406 bank accounts in Yiwu and foreign currency exchange volume reached US$2.9 billion.

Carry out the strategy of “trade and industry co-working” and take a new road to industrialization

In 2004, the total industrial output volume reached 49,253 billion yuan, of which industrial output volume of scaled enterprises 18.667 billion yuan, 20.1% and 33.3% of increase respectively. Yiwu continuously invested more in technological transformation as well as upgraded traditional industries, carried out 118 technological transformation programs and put in 3.1 billion of technological transformation investments, an increase of 40%. Meanwhile Yiwu accelerated its technological innovation by establishing 21 new research and development centers and was accredited 672 patents; strode in the place of setting up famous brand by establishing 32 city-level brands or above, 11 famous brands and 10 well-known firms, among which there were two China’s Famous Brands; promoted enterprise system reform and set up two more limited companies and one listed company; optimized and upgraded industry structure by fostering 14 dominant industries such as ornaments, stockings, Zippers, spinning and cosmetics and fastened the pace of constructing international commodities manufacturing base.

Energetically foster modern service industry to invigorate economy further

Shopping tourism is a booming industry. With a 30% yearly increase in daily visits, International Trade Mart has been listed into key recommendable spot by National Tourist Administration and is one of the key tourist attractions for Southeast Asian travelers. It welcomed 3 million travelers in 2004, of which 180,000 were foreign guests, an increase of 41% and 64% respectively.

Logistics develops steadily with 600 domestic freight companies, 8 of the global top 20 shipping groups set up offices in Yiwu, delivering more than 1000 standard containers daily.

Culture and sports industry flourishes. Around 40 national-level matches are held in Meihu Sport Center every year. Being the host playground of China Women’s Football Team, Meihu Sports Center will stage all the National Women’s Championships before 2008.

Agency industry is a new highlight. Securities, lawyers, accountants, consultation and other trade associations expand swiftly. Currently it has 5 securities companies in Yiwu.

Energetically push forward urbanization to enhance city bearing capacity

Municipal functions are improving increasingly. The government invests more than 10 billion yuan each year in the infrastructure construction in urban and rural areas. A framework of road building project for 100 km2 city area is under construction and a series of municipal engineering and public projects have been completed. Up until 2004, construction area in central urban district had already surpassed 52 km2.

Municipal management makes new steps forward. The government has established General Administrative Bureau of Law Enforcement to consolidate administration. Environment building and reconstruction has been strengthened. Yiwu is making its best to mold itself into an eco-city, an environment-friendly model city, a state-level garden city and a state-level civilized city. In 2004, Yiwu was honored as National Hygiene City.

Integration of urban and rural areas develops smoothly. The government was the first in China to establish program of action for integration of urban and rural areas and the first city in Zhejiang to finish its integration layout of urban and rural communities. The government has implemented 10 agriculture-supporting policies to actively advance the industrialization of agriculture. It has also carried out activities such as “driving the rural economy by the market” and “village tourism”. With these effective efforts, farmers’ income has been growing remarkably these years.

Regional exchange and cooperation advance continuously. The government has shaped the theory of “develop Yiwu through exchanges and cooperation with others” and has successfully held “Yiwu Forum”. A mechanism of proceeding with all the neighboring regions to help each other with its own particular advantages for mutual benefit and development is gradually taking shape.

Stick to human-oriented administration to pursue the harmony of social development

The government sticks firmly to the concept of human- oriented administration and try its best to attract the talents by good work environment and career. By the end of 2004, the total number of people who come to Yiwu for startup have surpassed the natives. Yiwu is a new immigrant city.

To establish perfect and multi-layer social security system, Yiwu takes the lead in establishing a new social assistance system covering both urban and rural areas in Zhejiang Province. The number of people carrying the serious disease has reached 390,000. The rate of support on those enjoying the five guarantees has reached 85% and that on “Three without” people 100%. The charity career has also developed fully. 114 million yuan has been raised and 530 poverty families have been helped.

Through socializing the Double-Advocation work, Yiwu has won the honor of National Double- Advocation Model City for 5 times successively. It has also won the title of National Science & Technology Advanced Model City and National Science Popularization Model City on the benefit of carrying out the strategy of “Strengthen the city with science and technology”.

It also carries out the activity if establishing A Safe Yiwu to produce a harmonious society and environment.

New Horizon

Face the world and based upon the future to design a complete blueprint at a higher level. Cave out the new space and strengthen the inter-regional cooperation to realize a full development. Yiwu aims to create a new progress by facing the world and to seek a new development by having the future in mind. In order to build an international trade city steadily, government will use a scientific concept of development to guide the social development. The theme is fixed on development; the core is to keep an everlasting flourishing market; and the emphasis is on internationalization and industrialization of the city. All is done to improve the city’s industry competitiveness, the opening up capacity, the urban and rural planning capacity, the harmonious developing capacity and the regional innovative capacity.

New Progress

The target of Yiwu for future development is: to increase three-fold of its GDP, to strive to rank its economic strength among the top 10 countries (cities) nationally and to build an international trade city in three steps. Step 1, by 2005, to take the initiative in realize modernization basically in Zhejiang province with a remarkable increase on the proportion of its export-oriented economy and per capita GDP over USD 3,200; to try to secure a precedent place in the ranking of countries (cities) nationally with regard to comprehensive socio-economic development index and lay a solid foundation for the construction of international trade city. Step 2, by 2010, to press forward its socio-economic development to the level of medium development country with per capita GDP over USD6,000; to endeavor to enter into the top 15 countries (cities) nationally with regard to comprehensive socio-economic development index; and to consolidate its status as international commodities circulation, manufacturing and R& D centers and form the outline of an international trade city initially. Step 3, by 2020, to achieve a still higher level of socio-economic development with per capita GDP over 15,000, which will be three-fold of the 2000’s figure; to strive to rank its comprehensive socio-economic development index among the top 10 countries (cities) nationally; to advance internationalization of economy, city modernization, integration of urban and rural area, fostering of a civilized society and practicing of scientific leadership in an all round way; and to become an international trade city enjoying considerable reputation.

Strive to foster a huge global supermarket and build an international paradise for shipping; energetically intensify the urban construction of Yiwu, insure green and beautiful landscape of each tract of land being developed and enable “Golden Yiwu” to prosper on a land of green hills and blue waters!

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