The city of Yiwu, located in the central part of east China’s Zhejiang Province, covers an area of 1,105 square kilometers and has a population of 1.23 million. It is the tenth national comprehensive reform pilot city with the first national comprehensive reform pilot program carried out in a county-level city.
Yiwu is the world’s largest consumer goods purchasing center. The market has an area of 4.7 million squaremeters, accommodates 70,000 booths and sells 1.7 million kinds of goods of 4202 categories in 16 classes. It is hailed as the world’s largest wholesale market of consumer goods by the United Nations and the World Bank. Yiwu was named the best commercial city on the Chinese Mainland by Forbes in 2005. It has established business ties with 219 countries and regions.
Over 400,000 overseas businessmen come to Yiwu each year, and over 13,000 overseas businessmen from more than 100 countries and regions reside in Yiwu. It has formed an international logistics network reaching the whole world. Yiwu Customs has realized a one-stop cross-customs clearance with Ningbo Port and Shanghai Port. Eighteen world-renowned shipping companies have set up representative offices in Yiwu.
Yiwu is a vigorous city of entrepreneurship. It has 13 national industrial bases, 1 national economic development zone, 1 provincial industrial park. The outputs of Yiwu’s seamless underwear account for 30% of the global totals and 80% of the national totals. Yiwu is also promising in modern services, such as exhibitions, finance and logistics. Every year, it holds over 80 fairs, including 4 national-level ones. With flexible financial services, convenient logistics and vigorous development of E-commerce, Yiwu gathers more than 50,000 various types of network shops and realizes a turnover of over 30 billion yuan.
Yiwu, “A Sea of Commodities, A Paradise for shoppers”.