Yiwu China Commodities City is composed of Huangyuan Market, Binwang Market and International Trade City. The markets cover a total area of 1.5 million square meters, boasting 43,000 booths, 160,000 business people, and 320,000 kinds of commodities in 1,502 categories of 34 industries. (Note: UN publicized that there are altogether 500,000 commodities in the world.) Trade volume of the markets has retained No.1 in the specialized markets in China for 14 years since 1991. It was the only market that was award the honor “value quality, honor credibility” by National Quality Inspection and Quarantine Bureau and was granted the honor of the sole Five-star Market by Zhejiang Industrial & Commercial Bureau.
Internationalization of Yiwu market is rising continuously. 5,000 agents of worldwide famous enterprises have been set up in Yiwu. Commodities are sold to 200 countries and regions including Southeast Asia, the Middle East, Europe and America. Over 1,000 standard containers of commodities are exported daily. Over 90% traders do foreign trade business. At present more than 5,000 foreigners live in Yiwu and more than 300 foreign offices have been set up.
Yiwu boosts the innovation of market exchange modes and vigorously develops e-commerce. China Commodities Digital Market now has 30,000 traders. Online exhibit and negotiation are beginning to be popular. Businesses like chain distribution, postal distribution and international freight forwarding are developing soundly. Trading ways and management tend to be more modernized
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