Business is booming again at the Yiwu International Trade Market in Zhejiang province, as a result of the pandemic being largely contained in China. [Photo by Xiao Da/China Daily]
HANGZHOU: Amid the vibrant beat of drums, and dragon and lion dances, Yiwu China Commodity City, also known as the “world’s supermarket” in East China’s Zhejiang province, welcomed the start of a new business year on Feb 21 following the Spring Festival break.
Merchants from around the world watched the performances with great interest.
Among them was Bijoy George, an Indian businessman who has spent two decades in Yiwu, who eagerly captured the lively scenes on his phone.
George, who runs a trading company in Yiwu specialising in tools and household items, expressed optimism for business prospects in the coming year.
“Yiwu is full of opportunities for trade cooperation. Last year, I bought 200 containers of goods in Yiwu, and this year I plan to buy 300 containers,” he said.
With decades of development, Yiwu has evolved into a pivotal hub for the production and wholesale of small commodities, boasting nearly 2.1 million product varieties. The city hosts over 15,000 merchants from more than 100 countries and regions.
According to statistics from Yiwu Customs, the total import and export value of the city reached 566.05 billion yuan in 2023, marking an 18.2% year-on-year increase.
Notably, exports exceeded the 500-billion-yuan mark for the first time.
During this year’s Spring Festival holiday, China-Europe freight trains departing from Yiwu were operational. From Feb 10 to 17, a total of 68 trains were dispatched, carrying 5,504 standard containers of goods.
Facing evolving customer preferences and shifting business models, merchants in Yiwu are striving to adapt to new commercial trends, actively seeking out new sales channels and creating fresh points of growth for their businesses.
One such entrepreneur is Zou Ying, who owns a packaging business within Yiwu China Commodity City. “We incentivised customers with special discounts today and witnessed tremendous enthusiasm from buyers,” Zou said, noting that she received over a dozen wholesale orders in a morning alone.
With 21 years of foreign trade experience in Yiwu and a burgeoning portfolio of eight stores, Zou believes that while the market may change, the demand for high-quality goods will remain steadfast. — Xinhua
