Chinese President Xi Jinping has frequently highlighted Yiwu’s significance on international stages, aptly calling it the “World’s Capital of Small Commodities.” His visit to the market on September 20, 2023, underscored this sentiment as he encouraged Yiwu to forge ahead with its "small commodities, big market" philosophy.

Yiwu’s market is a powerhouse in China’s export sector, trading with over 230 countries and regions. Impressively, 65% of its trade volume is attributed to foreign transactions. Each year, over 560,000 overseas merchants flock to Yiwu, and more than 21,000 foreign merchants have set up permanent bases in the city. The market has drawn the attention of major multinational retail groups such as Walmart and Metro, alongside over 30 prominent domestic chain supermarkets.

The market’s prosperity is not confined to its physical presence. Yiwu has seamlessly integrated online and offline commerce, fostering a thriving e-commerce sector with over 600,000 entities. It is the only county-level city in China approved by the State Council to establish a national cross-border e-commerce comprehensive pilot zone.

This digital innovation is complemented by the Yiwu Import Commodity Market and the Yiwu Import Commodity Incubation Zone, which have introduced 150,000 overseas products from over 100 countries, epitomizing the market’s slogan: “buying global goods and selling global goods.”

In September 2020, the State Council’s approval to expand the China (Zhejiang) Pilot Free Trade Zone marked another milestone for Yiwu. The Jinyi area, one of the three expansion zones, is set to transform into a pivotal international small commodity free trade center, a hub for digital trade innovation, an inland logistics powerhouse, a manufacturing innovation showcase, and a crucial node for "Belt and Road" cooperation.

Yiwu’s story is one of continuous evolution and adaptation, making it a vital cog in the global trade machine and a beacon of China’s economic prowess.

Youths who attended the 8th edition of China-Africa Youth Festival shopping at Yiwu International Trade Market.

Established in 1982, Yiwu International Trade Market has evolved into a colossal hub for small commodities.

Each year, over 560,000 overseas merchants flock to Yiwu, and more than 21,000 foreign merchants have set up permanent bases in the city.

Yiwu has seamlessly integrated online and offline commerce, fostering a thriving e-commerce sector with over 600,000 entities.

Yiwu International Trade Market is located in East China's Zhejiang Province.

With 75,000 shops and a daily influx of 210,000 visitors, Yiwu International Trade Market stands as the world's largest small commodity wholesale market recognized by the United Nations, the World Bank, and Morgan Stanley.