Yiwu is a city built on the market, every day there are more than 300,000 Chinese and foreign people here to do business, more than 100,000 tons of goods flow from here to more than 230 countries and regions, known as the "world supermarket".

Since 2024, under the complex and changeable global trade environment, the total import and export value of Yiwu from January to July has reached 379.10 billion yuan, an increase of 18.1% year-on-year; Among them, exports reached 335.97 billion yuan, up by 18.5%. Behind the outstanding achievements, Yiwu merchants have been continuously operating for 40 years, and the forward-looking development ideas of establishing an international trade city 20 years ago.

 

Location of Yiwu International Trade City

 

A modern market, all rivers run into sea

In 2001, China joined the World Trade Organization (WTO), bringing Yiwu a valuable opportunity to integrate into the global market. With the increasing international trade volume and the rapid growth of the number of foreign merchants, Yiwu's traditional business form has been unable to meet the growing international demand, and the city is in urgent need of modernization.

In this context, Yiwu fully seized this historic opportunity and realized the magnificent transformation from "road market" to international trade city. It not only represents the innovation of the traditional wholesale business form, but also represents the modern professional market that conforms to the trend of international development.

International Trade City district opening hours

 

After more than 30 years of development, the International Trade City has now built a market from one to five districts, a district east expansion and a district east expansion market, with a construction area of more than 3 million square meters, physical shops increased from the initial 705 to more than 75,000, and the turnover from the initial 3.92 million yuan exceeded more than 200 billion yuan. The five major markets are adjacent to each other, forming a coherent and integrated market business belt.

 

Photo source: Yiwu Index

---

www.ywindex.com

 

Photo source: Yiwu Index

---

www.ywindex.com

 

With the development of the market, Yiwu has collected more than 2.1 million kinds of commodities from the earliest small department stores, knitted cotton, thread, shoes, buttons, glasses and other commodities, and gradually developed into 26 categories and more than 3,000 sub-categories at present, associated with 2.1 million small, medium and micro enterprises in the country, pioneered the development of tourism shopping industry, and created a national 4A-level shopping tourism scenic spot. It is a veritable "small commodity ocean and shopper's paradise".

The top ten industries in Yiwu International Trade City are: clothing, jewelry, daily necessities, hardware, textiles, handicrafts, shoes, electronic appliances, toys, luggage and bags.

The first district market of the International Trade City was laid in 2001 and put into operation in October 2002, marking the official operation of the fifth generation of Yiwu small commodity market. Different from the road market and scaffolding market of the previous four generations, the information and internationalization level of the international trade city has been significantly improved, the use of modern management, the provision of professional foreign service centers, purchasers operating areas, etc., is favored by foreign investors. In 2000, the number of foreigners entering Yiwu was only 3,797, and in 2002, the number of foreigners coming to Yiwu skyrocketed to 31,200, an increase of nearly 10 times.

 

International Trade City District 1

 

The first district market covers an area of 420 mu, a construction area of 340,000 square meters, a total of more than 8,000 business, more than 10,000 households, by the provincial industry and Commerce Bureau awarded the province's first "five-star market" title. The first floor deals with flowers and toys; Second floor business jewelry; Third floor business craft gifts; The fourth floor is a direct selling center for production enterprises.

 

Data source: Yiwu Index

---

www.ywindex.com

 

In 2004, the second district of Yiwu International Trade City was opened. The second district market covers an area of 483 mu, with a construction area of more than 600,000 square meters, with more than 8,000 commercial Spaces and more than 10,000 operating households.

The first floor of the second district operates bags, umbrellas, poncho-bags, gift packaging; On the second floor, hardware tools - accessories, electrical products, locks, cars; The third floor is engaged in hardware kitchen and bathroom, small household appliances, telecommunications equipment, electronic instruments, clocks, etc. The fourth floor is a direct selling center for production enterprises, and the fifth floor is a foreign trade procurement service center.

 

Data source: Yiwu Index

---

www.ywindex.com

 

The building area of the three districts of the International Trade City is 460,000 square meters, with more than 6,000 standard commercial Spaces of 14 square meters on the first to third floors. The first floor of the market deals with pen and ink supplies, paper products and glasses. On the second floor, business office learning supplies, sports equipment, sports leisure supplies; The third floor deals with cosmetics, buttons, zippers and clothing accessories. The fourth floor is a direct selling center for production enterprises; The fifth floor deals with painting (decorative paintings, photo frame accessories).

 

Data source: Yiwu Index

---

www.ywindex.com

 

In October 2008, the fourth District market of Yiwu International Trade City, as the world's largest single market building, was put into use, with a construction area of 1.08 million square meters and more than 17,000 commercial Spaces.

As a brand directly operated plaza, the tourist shopping center is located in Gate 87-88, 5th floor, Fourth District, International Trade City, with a business area of 26,000 square meters, with more than 500 commercial Spaces, relying on the rich commodity resources of China's small commodity City, operating more than 20,000 kinds of special commodities.

 

 

International trade city four district tourist shopping center

 

The first floor of the fourth district market operates socks; On the second floor, daily necessities, gloves, hats, knitwear and cotton; The third floor deals with shoes, thread, lace, ties, wool, towels; The fourth floor deals with bras, underwear, belts, scarves; The fifth floor is equipped with a direct selling center for production enterprises and a tourist shopping center to receive domestic and foreign tourists.

 

Data source: Yiwu Index

---

www.ywindex.com

 

International Trade City five district market construction area of 640,000 square meters, there are more than 7,000 commercial space. Among them, the import goods Hall is located in the first floor of the market of the fifth district of the International Trade City, established more than ten years ago, the products from the original 51 countries of more than 2,700 kinds of products to more than 100 countries of more than 100,000 kinds of products, the current business area of 100,000 square meters, is the current scale of the leading "one-stop" import goods procurement base. Is a collection of management, exhibition, negotiation in one of the import goods exhibition and trade center.

 

International Trade City five zone import goods hall

 

The market in the five districts is mainly engaged in imported goods, bedding, textiles, knitting raw materials, automotive supplies and accessories.

 

Data source: Yiwu Index

---

www.ywindex.com

 

In recent years, the market has continuously optimized the layout of the industry and incorporated new industries, the turnover has risen year by year, and the number of merchants has ushered in a new round of expansion after the stable period, helping the market to accommodate more operators and buyers.

 

Market turnover and number of commercial Spaces

Chart source: Yiwu Index

---

www.ywindex.com

The business model of the international trade city is based on the source manufacturers, distribution and wholesale, and the production enterprises account for 54%. Business households for the majority of downstream buyers to provide supplies, domestic trade mainly radiates Zhejiang, Guangdong, Jiangsu, Shandong, Shanghai and other regions.

The international trade city is mainly based on foreign trade, with an outward orientation of more than 60%, and the Middle East, Southeast Asia, South America, Africa and other regions are regions with large export trade volume.

According to Yiwu Index monitoring, the export index of Yiwu International Trade City has increased steadily in the past three years, and the monthly average export index reached 100.78 points from January to August 2024. The "1039" market procurement trade method provides support for the trade of multi-batch, multi-type and small-batch non-ticket goods, and promotes the export of international trade city to be more convenient and efficient.

 

Note: Export index refers to the price index of commodities sold abroad as export transactions, which is a component of Yiwu small commodity price Index.

Chart source: Yiwu Index

---

www.ywindex.com

 

The cluster effect of international trade city is remarkable, which provides convenient logistics for business owners. Road transportation is the main logistics mode of domestic and foreign trade in the international trade city. Combining railway, sea transportation and aviation, it forms an efficient logistics network to help domestic and foreign trade quickly achieve commodity transportation.

 

Chart source: Yiwu Index

---

www.ywindex.com

 

Second, the physical market, charm remains

 

Although affected by the macro situation, the market heat has fallen in 2022, but the past two years have quickly recovered. From January to August this year, the average daily opening rate of the International Trade City reached 97.3%, the average daily passenger flow reached 224,900 people, the average daily number of foreign businessmen 3812 people, and domestic and foreign buyers were enthusiastic about ordering samples.

 

Chart source: Yiwu Index

---

www.ywindex.com

 

 

Chart source: Yiwu Index

---

www.ywindex.com

 

 

Chart source: Yiwu Index

---

www.ywindex.com

The market situation actively promotes the active entry of operators around the market, and the average rental rate of commercial space in the market is as high as 97%. The International Business City brings together operators from the "north and south", and the merchants from other provinces are mainly from Jiangxi, Guangdong, Henan, Fujian, Anhui and other provinces. Business owners are mainly 33-50 years old middle-aged people, in recent years, the "second generation of business" have entered, adding new vitality to the international business city.

 

Third, the future market benchmark, to create a three-dimensional trade ecosystem

Building on the success of Zone 1 to 5 of the International Trade City, the Global Digital Trade Center project (i.e., Zone 6 Market) will launch full-scale investment promotion in the second half of 2024, and the main part of the market will begin operations in October 2025.

Global digital Trade Center covers a total area of 562 acres, construction area of 1.25 million square meters, estimated investment of 8.3 billion yuan. The building is composed of five major sections: market, commercial office building, commercial block, apartment and digital brain.

 

Global digital Trade Center

 

The market segment has a total of 410,000 square meters. As a new market that has been comprehensively upgraded, the global number trade center market has a larger commercial area and a more reasonable structure. It has arranged vertical categories of industries around the consumption scene, attracted brand enterprises and high-quality supply chain enterprises around the world, and fully adapted to the development of new models and new formats.

 

Global number of trade center market plate

 

Office sector, a total of 310,000 square meters, around the international trade upstream and downstream, trade links, attracting research and development design institutions, digital trade, service trade and other subjects.

The commercial block section, with a total of 38,000 square meters, will integrate the three functions of commerce, life and social communication into one, meet the needs of business supporting, attracting entertainment and leisure, fitness and light body, catering, popular restaurants, special snacks, coffee and other brand businesses.

Apartment sector, a total of more than 1,200 units, all the use of fine decoration delivery, but also to provide serviced apartment services, for the settled enterprise talents to provide livable living experience.

As the landmark building of the global digital trade center, the digital brain integrates the functions of product display, business exchange, industrial activities, digital services, etc. It is the gathering place of future trade and the source of large industry models, suitable for brand merchants' new product release, public relations activities and media activities.

 

Digital brain

 

After completion, the global digital trade center will be a three-dimensional ecosystem of small commodity trade with integration of transaction implementation, industrial city linkage, new and old market coordination, online and offline integration, and domestic and foreign exchanges, which will provide better carrying space for new entities, new industries, new models, and new business forms.

Closing remarks

The multi-industry, multi-subject and multi-ecological comprehensive entity market is the cornerstone of Yiwu's trade industry development. In the future, the International Trade City will continue to optimize the industrial structure and business model, and open up new growth space for Yiwu's urban development and global small commodity trade in the tide of digital intelligence and internationalization.