|Yiwu International Trade Market|
|Alternative names||• Yiwu Futian market
• Chinese Yiwu International Business and Trade Mall
• Yiwu China International Trade Town Shopping and Touring Area
|Location||Yiwu, Zhejiang, China|
|Inaugurated||22 October 2002|
|Owner||Yiwu Municipal Government|
|Floor area||4,000,000 m2 (43,000,000 sq ft)|
|Number of stores||62,000+|
China Commodity City was honored by the UN, the World Bank and Morgan Stanley amongst other world authorities in 2005 as the "largest small commodity wholesale market in the world". China Commodity City has three market clusters of International Trade Mart, Huangyuan Market and Binwang Market.
Yiwu Market History
Yiwu is a hilly region with farmers as its natives. Poverty-ridden land left peasants with no option but trade for a living. As early as 1600s, trading flowered in Yiwu to never look back again.
It was in 1600s that Yiwu peasants started trading for chicken feathers as it was used as natural fertilizer for crops. They made some other attractive household articles using these feathers and even exported them. When there was not much to do in farmlands, they travelled across villages to sell sewing needles, threads and sugar chunks and what not. These city men were also named as Sugar Shoulder-pole Men in some rural areas. Soon they grew in number and many wholesale markets came into existence to cater them. It was only in 1949 when Planned Economy took birth in this place.
Planned Economy and Sugar-for-Chicken Feathers
Earlier, the trade system was considered to be capitalist and hence, never got appreciated. However, things didn’t change much in the mountainous Yiwu. People had no option but to be in the same business to survive, this time secretly though. It was illegal and thus once caught; their belongings were confiscated by the authorities.
Once a Yiwu Mayer, Xie Gao Hua carried out an investigation and found out that the secret wholesalers were in a better living conditions than that of the peasants. So he finally took the decision in the favor of wellbeing of people. Eventually the things changed and the free markets came into existence.
The First Free-Marketplace in Chinas History In 1982, the local government put cement boards over a stink ditch nearby Huqingmen Street, and set up around 700 stalls. And it was then that Yiwu market was born. Over the course of time, Yiwu wholesale market has undergone several changes. Now Yiwu International Trade Center has the capacity for over 70,000 stalls earning huge profits of billions USD. It has surely become the world’s most popular wholesale market for various products.
Yiwu International Trade Mart
The International Trade Mart (Futian market) is the main one and the biggest. It currently covers an area of 4 million square meters, with 62,000 booths inside. 100,000 suppliers exhibit 400,000 kinds of products almost every day from 9 am to 5 pm (except the holidays of Chinese Spring Festival). The products are from around 40 industries and of 2,000 different categories. 65% of these products are exported to over 215 countries and regions. Futian market is more like a permanent fair instead of a traditional wholesale market. It has developed into an information, innovation, exhibition and distribution center for consumer goods.
Initial construction of the first phase of the Yiwu Market began in 2001 and was opened on 22 October 2002. District 1 covers an area of 340,000 m2 (3,700,000 sq ft) hosting 9000 booths and over 10500 businesses. The complex cost ¥700 million to construct. It is divided into five main business areas: the Manufacturers Outlet Centre, the Shopping Centre, the food court, the warehousing centre and the "Subject of the Market" area. The 1st storey deals in flowers and toys, the 2nd storey jewellery, arts & crafts on the 3rd storey, manufacturer outlet centre on the 4th storey and a sourcing centre for foreign trade companies in the east subsidiary building. On average 40,000 people visit the complex every day, 5000 of whom are foreign visitors. Commodities from District 1 are exported to over 200 countries and regions.
District 2(F & G) opened on 22 October 2004 providing over 600,000 m2 (6,500,000 sq ft) of floor space for over 8000 booths and 10,000 businesses. The first floor deals in suitcases & bags, umbrellas and raincoats; the second floor specialises in hardware tools, fittings, electrical products, locks and vehicles; the third floor specialise in kitchenware, sanitary ware, small home appliances, telecom facilities, electronic instruments, equipments, watches and clocks; the fourth floor is a manufacturers’ outlet centre and hosts the Hong Kong Hall, Korea Hall, Sichuan Hall, and other regional manufacturers halls; on the fifth floor, there is sourcing & service centre of foreign trade.
District 2 (H) is 460,000 m2 (5,000,000 sq ft) and has over 6000 booths. It specialises in cultural products, sports products, cosmetics, eyeglasses, zippers, buttons and apparel accessories. It also has a manufacturers’ outlet centre.
Work on District 4 of the International Trade City was started in October 2007 and was constructed in two phases. The first phase was finished in October 2008 and the second phase was completed on 21 October 2008. It covers an area of 560,000 m2 (6,000,000 sq ft) with 1,739,000 m2 (18,720,000 sq ft) of floor space within the complex. The building provides room for 14,000 booths. This district specialises in daily necessities, knitted & cotton articles (including underwear, scarves, gloves, hats and cotton fabrics), footwear, belts, neckties, towels, wool items, lace items and other textile industries. In addition to hosting many of the afore mentioned industries the second phase also hosts the International Space Museum.
On 5 May 2011 District 5 was completed at a cost of ¥1.42 billion. 5 storeys high with 2 underground storeys it covers an area of 640,000 m2 (6,900,000 sq ft) providing space for over 7000 booths and shops. The district specialises in imported commodities (including an African imports emporium), bedding, textiles, knitting materials, auto products and assorted accessories. It is located to the south of Chengxin Road and north of Yinhai Road, next to the 4th District.
—==Huangyuan Market== Yiwu new Huangyuan market formally opened recently. It is located in the most prosperous business area of embroidered lake. The south of this market is Jiangbin Road, the south is Middle Chouzhou Road and the west is Huangyuan Road. The market covers an area of 117 acres and the building area is more than 420 thousand square meters. The total investment is RMB 1.4 billion.
Moved from Binwang Road to the river bank, the operating style of Huangyuan market upgraded from outside to inside. Compared with the 2.8 square meters open booth, Huangyuan market set up 14.4 square meters closed glass booth. It takes unit regionalism and the channel is capacious and bright. Thus satisfied the shop owners requirements of manage exhibit, field negotiation, on-the-spot trade. Meanwhile, broadband has been connected to households and the popularization of the POS machine have created favorable conditions for the Internet businesses of the shop owners. These will also promote the rapid development of intangible market.
Huangyuan market is divided into 8 floors overground and 1 floor underground. There are more than 5000 booths. From the first floor to the fifth floor are jeans, men's clothing, women's clothing, sportswear, woolen sweaters, children's clothing and so on. They are positioned as the professional clothing market. The eighth and the ninth floors are projected as local characteristic boutiques, which will adopt the predominant enterprises of clothing industry on national base.
The opening of yiwu Huangyuan Market will no doubt enrich the selling patterns of the commercial tenants. It will be good for the clothing industry to grow bigger and stronger. And we believe that more and more business clients from home and abroad will be attracted here. Yiwu commodity city will be moreand more famous and the economy will surely be promoted greatly.
Bedding Market, formerly Yiwu Binwang Market, composed by five trading blocks, Publications Center, and the International Trade Center, with more than 8,000 booths and over 20000 business entities in total. The main products are clothing, bedding, and it is the largest bedding market in Zhejiang Province. It was originally the food market, which later moved to Agricultural city.
- "International Trade City". yiwuchina.org. 12 July 2008. Retrieved 17 July 2011.
- 吴波成. "Letter from the General Manager (总经理致辞)". Translated from Chinese. Zhejiang China Commodities City Group Co., LTD. Retrieved 17 July 2011.
- Yiwu, Forum. "Yiwu market history". Yiwu information and news. yiwuforum. Retrieved 5 April 2012.
- "International Trade City (Ⅳ)". yiwuchina.org. Retrieved 17 July 2011.
- "5th District of Yiwu International Trade Mart". yiwuchina.org. Retrieved 17 July 2011.
- Yiwu Market Survival Guide
- Peter Hessler (June 2007), "China's Instant Cities", National Geographic Magazine: 4, and an accompanying "Yiwu mall" video