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Yiwu: a powerhouse of profits, products and professionalism
  Update: 3/4/2008 3:47:53 PM Visit Total: 344

Yiwu (CCKL)

Located in the middle of East China's Zhejiang Province, Yiwu is known as the largest business center of small commodities in Asia. There is not much cultivated land available in the city, with an area of 1,105 square kilometers. So, in the past local people had to go to neighboring cities to conduct business.

The stereotype of a Yiwu vendor at that time is someone carrying two buckets of small goods - sugar, candy and embroidery needles for instance - on a bamboo-made shoulder pole, banging a small drum to attract attention.

A market named the Yiwu Small Commodity City was set up by the local government in 1982, in aim to make the city an international business center.

Now, the market of Yiwu is one of 20 markets spread over the city, with 35,000 booths and an area of around 1 million square meters. The main markets offer arts and crafts, candles, gardening equipment, umbrellas, artificial flowers, stationery, sport and leisure products, shoes, clocks and watches, toys, kitchen and bathroom hardware, jewelry, leather products, tissues and socks. More than 320,000 items are classified under 1,502 different categories.

Yiwu has become a paradise for traders from all over the world, with up to 200,000 visitors per day on average.

It is also the country's biggest export center of small commodities. Every day over 1,000 containers leave the city bound for overseas markets. The total value of export in 2005 rocketed to $1 billion, up from $40 million in 1999.

 
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