The Yiwu city, which is located in the Zhejiang province of China, has origins dating back to the year 222 BC. It was known as Wu Shang then. The Qin dynasty, which founded this vibrant city, is still glorified by the rich cultural history which prospered as far back as the Neolithic Age.
This city has grown with giant footsteps financially. The foundation of the commodity market was laid in 1995. Since then, there has been a continuous and tremendous flow of traders that fueled economic growth in the city of Yiwu. The urbanized area grew from 2.8 Sq.km. in 1984 to about 18 Sq.km. The GDP has also seen a manifold increase to 27.24 billion Yuan in the second quarter of 2010. The industrial output of the city has increased by 15.5%. That’s why today the city is known as Yiwu International trade city.
A city of about 1.2 million people, located near the eastern coast of the People’s Republic of China, it governs 8 towns and 5 sub-districts. It has gained prominence for two things that make it stand apart: the large-scale small commodity trade and a free market which exude vibrancy.
Today, Yiwu is witness to a thriving scene as a result of a flourishing market, an economy that is emergent, and a society that is stable. There has been an ongoing effort in developing the Yiwu city for many years and now the results are showing. Traders have been the mainstay of the development. The development strategies and also promotion of commerce by the traders here have played crucial roles in that regard.
The commodity industry has been leading in the regional economy since 1995 (the year of its inception), and it has been an acknowledged international commodities market since 2002. The industry in Yiwu has grown significantly throughout these years thanks to the efforts of the trade people, for which now, the entire world looks at Yiwu in China as a hub of the small commodities business. This huge Yiwu market houses 62,000 stores and offers approximately 200,000 varieties of products of daily necessity. It is surely a traders’ paradise.
Connectivity is a facet that was the need of the hour, since traders could do brisk business. It also helps bring accolades by the truckloads to this thriving activity that has defined the prowess of the manufacturing sector China has been bestowed with. This small town is very well connected to the important cities in the country. A superlative infrastructure enables even the farthest flung towns and cities to connect to the Yiwu. Trade indeed can conquer farther than wars.
Everything from highways and railways to the most modern airport connects the shopper’s paradise to the rest of the country and the world. Additionally, world-class hotels and restaurants befitting international standards can be found generously spread across the city.
Many people approach trade agents at Yiwu who offer a one stop solution to their customers who not only provide them with an itinerary but also guides and translation services and also shipping services which makes for a 360 degree approach. This is one-stop window of solutions for multiple tasks.
What is also inviting is the city’s commitment towards a greener planet. The impeccable and striking urban setting is interspersed with vast patches of greenery that keeps its carbon footprint at the bare minimum. The trading community has put their hand up in not just making this Yiwu city vibrant, but also to show the world that business and the environment can go hand in hand.