Yiwu is a city with a number of outstanding characters: ranked first in terms of comprehensive competitive strength among the county-level cities of Zhejiang Province, one of the Top Ten Most Dynamic Cities among China’s County-level Cities, one of the Most Promising Cities for Exhibition in China, National Sanitary City, National Garden City, Top Tourist City in China, National Model City for Environmental Protection, Harmonious Immigrant City, etc.
In 1982, Yiwu took the lead in establishing the small commodity market in China, and put forward the development strategy of “building the county by proposing its commerce”. For thirty years since the reform and opening-up, under the guidance of the Scientific Outlook on Development, Yiwu has been adhering to the development strategy of “building the city by proposing its commerce”, devoting itself to “enriching its people by starting enterprises and improving the city by innovation” and boosting its industrialization, internationalization and urbanization with the emphasis on fostering, developing and upgrading the market, thus taking a road of regional development with its own characteristics. Thanks to all the efforts, Yiwu’s economy and society enjoy sustainable, rapid, sound and coordinate development.
By the end of 2010, the Yiwu small commodity market had boasted the largest volume among major specialized markets in China for twenty consecutive years, thus becoming the largest logistic center and exhibition center for daily consumer goods in the world and an important export base for commodity export in China. It was awarded successively the titles of the only market in the domestic market that honors quality and keeps commercial integrity, the market that observes contracts and keeps promises and the “Model Market for Supervision by Classification of Market Credit in China” by the General Administration of Quality Supervision, Inspection and Quarantine and the General Administration of Industry and Commerce. Based on the Yiwu small commodity market, the “Yiwu China Small Commodity Index” compiled by the Ministry of Commerce has been released regularly, renowned as the vane and baremeter of the international price fluctuation of commodity manufacture and trading. By compiling and implementing the first industry standard “Classification and Code of Small Commodities” in China, Yiwu is striving to participate in the formulation of international trade rules for small commodities. After moving to six locations and expanding for twelve times, the Yiwu small commodity market, covering an area of over 4.30 million square meters, has 62,000 stalls, collecting over 1.70 million products across 43 industries today. By attracting 200,000 visitors daily in average and pooling more than 100,000 manufacturing enterprises, it is the largest commodity wholesale market in the world.
With further opening-up and increasing internationalization, commodities of the Yiwu small commodity market, with the annual export volume of over 500,000 standard containers, have been exported to 215 countries and areas all over the world with the market extroversion degree of over 65%. Nearly 10,000 foreign merchants from over 100 countries and areas are permanently stationed in Yiwu for commercial and trade activities, and 2,124 representative offices of the oversea companies, almost a half of the total amount for Zhejiang Province, were approved to set up in Yiwu. Over 10,000 commodities from 28 countries and areas converge in the Imported Commodities Pavilion of the Yiwu China International Trade Center. Besides, Yiwu’s management and service systems for foreign affairs are increasingly improved. The state ministries and commissions, including the Ministry of Foreign Affairs, the Ministry of Public Security, the Supreme People’s Court, the China Banking Regulatory Commission and the General Administration of Customs, expand Yiwu’s management jurisdiction over foreign affairs in succession, especially opening the first aerial port in the county-level city in China temporarily and introducing the flight from Yiwu to Hong Kong for two consecutive years.
The continuous prosperity of the market drives the rapid development of such modern service industries as exposition, logistics and finance. The People’s Government of Zhejiang Province listed Yiwu as one of the five major construction bases of the modern service industry during the 11th five-year plan period, one of the three major customs clearance construction cities and one of the four major modern logistic centers in Zhejiang Province. Every year, over 40 specialized expositions highly correlated with the local industries are held in Yiwu, preliminarily forming the development pattern of all-around prosperity in all specialized expositions led by the Yiwu Fair and the China Yiwu Stationery & Arts Trade Fair and featured by series of brand products expositions. The Yiwu China International Trade Center Tourist Shopping Center, the first national 4A rated shopping tourism area, is a 10,000-square-meter super tourist shopping center, which builds up the unique brand of “tourist shopping”. In 2008, 5.97 million visitors, including 348,000 foreign tourists, visited the market. Presently, there are 40 financial institutions of all kinds in Yiwu, making it one of the county-level cities equipped with the perfect organizational system for financial institutions in Zhejiang Province.
The mutual promotion between the markets in Yiwu and the products made in Yiwu gives the city’s unique dynamics and attractions in trade and manufacturing full play. Yiwu introduces and implements a series of policies in favor of the development of trade service industry, industrial economy, enterprise listing, economical and intensive use of land, modern agriculture and export-oriented economy. Consequently, its environment for development is optimized and transformation and upgrading of its industry is speeded up. At present, Yiwu boasts 67 famous Chinese trademarks, 7 Chinese brand name products, 19 national inspection-free products, 5 national standards and 4 public companies, forming more than 20 advantage industries engaged in knitted stockings, jewelry, arts and crafts, wool spinning and cosmetics, and successively wining 11 titles of industrial bases at the state level in the fields of pen-making, cosmetics, seamless knitting clothes, crafts and gifts, etc. A manufacturing development pattern featured by “large industries manufacturing small commodities and a large industrial cluster filled with small enterprises” has come into being in Yiwu.
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