Source: Yiwu sourcing agent Author: Gary Date: 2008-07-16
According to the statistics about Yiwu market made by the relevant departments recently, the total business volume of Yiwu Market in the first half of this year has reached 19.7 billion yuan, a rise of 8.24% compared with the same period last year.Among the total volume, the turnover of China Commodities City is 14.58 billion yuan, a rise of 8.97%.
In the first half of 2008, for the unfavorable domestic and international economic factors like price rise of raw materials, rise of labor costs, tight credit policy, adjustment of foreign trade policy, the subprime mortgage crisis in US, devaluation of dollar and global inflation, as well as the strike of snow storm in Southern China and Wenchuan earthquake, Yiwu markert adjusts itself to fit the periodie changes. However, by expanding the domestic and international market with numerous efforts. Yiwu market has a smooth developing trend in general.
In the first half of 2008, tourists shopped a lot in China Commodities City, Yiwu market accepted 2.3877 million tourists from January to May, including 125, 700 foreign tourists. The numbers increased 16.84% and 7.8% respectively compared with the same period last year. The tourist shopping center in Yiwu International Trade Center accepted 99,225 tourists, a rise of 8.9%, including 4868 foreign tourists. In April and May, the beauty & cosmetics fair, hardware & electrics fair, consumer goods fair and cultural products trade fair also attract lots of visitors.However, the approaching of Beijing Olympic Games produced some short-term negative effects on Yiwu foreign trade. The tight visa policy for foreigners before Beijing Olympics, the implement of maximum US $ 50,000 personal annual foreign exchange settlement policy from june 1st, and the implement of REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) policy by EU made the export situation of Yiwu Market more and more severe. According to the relevant survey, the number of foreign traders, especially those from Mid-East, USA has decreased evidently since this June.
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