Yiwu is a city built on the market. Having taken the lead to set up the small commodity market in the nation since 1982, Yiwu already formed a market system with China Commodity City as the core, 11 professional markets (Yiwu Agricultural Products Trade City, Yiwu Furniture Market, Zhezhong Wood Market, Yiwu Decoration Materials Trade Center, Materials Market, Telecommunications Market£¬ Household Electrical Appliances Market£¬Yiwu Automobile Trade City£¬Secondhand Automobile Exchange Market£¬Yiwu Real Estate Exchange Market£¬Yiwu Publication Exchange Center£©and 14 specialized streets as support, and transportation, property right and labor force as supplements through moving for five times and expanding for ten times. At present, Yiwu¡¯s market has an area of 4 million square meters. In the 62,000 booths are more than 1.7 million kinds of commodities of 9105 sub-categories form 16 major categories. In addition, Yiwu¡¯s market has gathered over 18,000 trademarks, more than 800 famous trademarks, 6000 general agents and exclusive distributions.
In the report on China's development jointly released by the United Nations, the World Bank, Morgan Stanley and other global authoritative agencies in 2005, Yiwu is called the largest global commodities wholesale market. Besides, Yiwu's market has been awarded the title of ¡°Quality-valuing and Credibility-honoring Market¡±, ¡°Contract Abiding, Trustworthy Enterprise¡± and ¡°Credit Model Market¡±, the only one in the country with these titles. In 2008, Yiwu¡¯s market realized the steady development facing all sorts of difficulties, which witnessed the total volume of transaction reaching 49.23 billion yuan (an increase of 6.83% compared to the same period), including 38.18 billion yuan contributed by China Commodity City, growing 9.6% compared to the same period. Driven by such growth momentum of China Commodity City under severe conditions, the development of other types of market in Yiwu was also very active. In the whole city, there were 13 markets reaching the volume of transaction of 100 million, and 5 markets achieving the turnover of 1 billion. By the end of 2008, the volume of transaction in Yiwu¡¯s market has topped the great professional wholesale markets in China for successive 18 years.
Every day, there are 200,000 businesspeople from all over the country hustling and bustling in Yiwu¡¯s market; there are over 10,000 oversea traders doing business here daily, mostly for purchase. At present, there are over 500,000 containers departing for 215 countries and regions annually. So far, more than 2,300 overseas enterprises have been approved to set up branch offices in Yiwu; oversea merchants have opened over 9,000 accounts in Yiwu¡¯s banks; the United Nations High Commissioner for Refugees, Gift Procurement Office of the Ministry of Foreign Affairs and Carrefour's Asia Headquarter have set up procurement centers in Yiwu¡¯s market while developed countries in Europe and North America have become Yiwu¡¯s important export market; every year Yiwu holds over 40 exhibitions and fairs.
Yiwu also boasts well-installed international logistic centers and five specialized freight transportation markets, with domestic and international corporate entities in charge of freight transportation amounting to over 600. Of the global top twenty ocean-shipping groups, fifteen have set up branch offices here. The city provides freight business extending to over 250 middle-and large-sized cities, five railway parcel express trains, and more than twenty flight routes. Yiwu has been designated by Zhejiang Province as one of three key customs clearance construction projects.
The world first wholesale index of daily necessities-¡°The Yiwu China Commodity Index¡±, compiled by the Ministry of Commerce, is released every week. The publication of the Index will consolidate and enhance the influence of Yiwu¡¯s status of small commodities on the world's market of small commodities, contribute to the clout of the country's markets of small merchandise on the pricing of the world's markets of small commodities, and favorably impact the formatting of pricing mechanism of the globe's small commodities. Moreover, its release will definitely emerge as a significant point of reference for the world's system of business culture.
