Source: Yiwu sourcing agent Author: Gary Date: 2008-01-17
Yiwu certainly deserves its name of "the Sea of Commodities". On the crowded streets, half of the traffic are trucks delivering goods and the other half are mostly expensive cars and taxies travelling to and from markets. Yiwu Market, attracting customers home and abroad, is an integrated market system made up of several large markets in the name of China Commodities City, 11 specialized markets, 22 specialized malls and supported by such elements as transportation, ownership and labour. Compared with the local citizen number of 700, there are over 1 million non-natives in this city, of whom more than 10 thousand are foreign businessmen.
China commodities City, which is called the world's largest purchasing base for daily consumables, is composed of Huangyuan Market, Binwang Market and Futian Market. More than 400 thousand commodities are wholesaled here , over three fifths of the commodities which are listed by UNCTAD and commodities here are exported to 212 countries and regions. Some inter national organizations such as UNHCR and more than 20 nulti-national retailers like Wal-Mart, Carrefour purchase goods here all the year round.
Unlike it used to be ,today's China Small Commodities City are various Yiwu market operated in modern buildings and in modern ways. On-the-spot buying and selling with bags of goods carried in and out is no longer the only way of trading. The market is also a showroom and a business talk place. The business in the Market actually goes on in the form of "order handling".
Being No.1 among the wholesale markets reached 31.5 billion yuan in 2006 though only daily used commodities such as socks & stockings, zippers, ornaments, tools are wholesaled here. With specialized markets taken into account, the turnover reached 41.8 billion yuan in total. The turnover of China Small Commotity City and all the markets in Yiwu in the first 10 months of 2007 reached respectively 25.14 billion yuan and 33.79 billion yuan, rising by 8.6% and 9.4% respectively compared with the same period of the previous year.
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