Source: Yiwu News.cn Author: Gary Date: 2008-05-12
The prosperity index of this April rose considerably and the price index also went up slightly, says the analysis report on the prosperity index of "Yiwu (China) Small Commodity Index" newly released by Yiwu Index Office of China Small Commodities City.
It shows the prosperity index reached 1137.23 points in April, up 76.41 points from that of March and of the 17 categories of small commodities, 15 went up in prosperity index and 2 dropped. Besides, the price index reached 101.88 points in April, rising by 0.35 points from that of March and of the price indexes of 17 categories of small commodities, 12 went up and 5 dropped.
According to Yiwu (China) Small Commodity Index released on April 1, the prosperity index was 1060.82 points in March, which reached 1165.34 points in January. Due to the market closed during Spring Festival holiday, the prosperity index of February was not released. Compared with that of January, the prosperity index of March decreased by 104.52 points.
Yiwu (China) Small Commodity Index is the first index for small commodities in China, which is complied under the joint leadership of the Ministry of Commerce and Yiwu People’s Municipal Government. It bases itself on Yiwu China Small Commodities City, the largest small commodity market in the world, and releases the price index of the previous week every Tuesday as well as the prosperity index of the previous month at the beginning of every month. Yiwu Index makes July 2007 the base period and set the base points of prosperity index and price index at 1000 and 100 points respectively.
Moreover, the report also indicates the market-size index was 98.54 points in April, up 25.07 points against the same period of last year. Among its sub-indexes, the trade value index, trade volume index and popularity index increased by 24.72, 24.01 and 26.81 points respectively over the same period of last year. However, the market benefit index was 110.22 points in April, a drop of 6.75 points, and the confidence index was 137.48 points, a drop of 1.19 points.
According to the analysis of the report, the drop of market benefit index mainly resulted from the decrease in the merchandise-turnover index and turnover rate index of the capital, which, to some extent, reflects the restraints of the tight monetary policy over the circulation speed of commodities and capital. Yet the confidence index reveals the influence of the factors on the dealers, like the rise in the products’ prices and the enhancement of the quality standards.
In the meantime, the report shows, due to the pressure from the increased costs, all the industries in the market have marked up their prices to different degrees since last year. After this Spring Festival, the emphasis on price adjustment gradually shifted to the adjustment in merchandise structure. That is, the market dealers changed their operation strategies and tried to develop their advantages in quality, which accounts for the drop of price index in some industries this month. Nevertheless, there is still high pressure of price rise in the industries like cosmetics, washing articles, paper products and toys.
In addition, some products are becoming best-sellers in the market, including cosmetics,washing articles, crystal ornaments,tourist handicrafts,sports shoes for travel,umbrellas,Olympic products,and Christmas goods. As to the textile products and garments,although the relevant enterprises encountered a decrease in the foreign trade business volume, they adjusted their operation strategies and expanded their domestic sales. As a result, the prosperity indexes of textile products and garments in April increased by 133.49 and 118.93 points respectively, compared with those in March.
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