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Yiwu: A hub for cross-border e-commerce, logistics

chinadaily.com.cn| Updated: January 15, 2024 L M S

Yiwu, renowned as the world's capital of small commodities, boasts trade relations with 233 countries and regions, offering a diverse array of more than 2.1 million goods. In 2023, its import and export value exceeded 560 billion yuan ($78.27 billion), up 15 percent year-on-year. The city's cross-border e-commerce exports grew significantly as well, reaching 121.16 billion yuan, up 11.8 percent year-on-year.

In 2023, Yiwu's market operators exceeded 1 million, of which 175,700 were newly-established e-commerce entities, marking an increase of 48.33 percent over the previous year. Additionally, over one third of the approximately 600,000 e-commerce entities in total were engaged in cross-border e-commerce.

The city also hosted more than 400 cross-border e-commerce training activities last year, attracting participants from the international trading community.

Yiwu logisitics infrastructure boasts a full range of transportation modes, including road, rail, mail, air, and sea. For example, the Yixin'ou (Yiwu-Xinjiang-Europe) freight train has connected Yiwu with more than 50 Eurasian countries and more than 160 cities, with an accumulated shipping volume of more than 540,000 TEUs.

In 2021, Yiwu was also connected via freight rail with Ningbo Zhoushan Port, the world's largest port in terms of cargo throughput. This gave the city status as the sixth port area of Ningbo Zhoushan Port, further integrating logistics systems and reducing export times and costs.

Yiwu has also set up 210 overseas warehouses in more than 50 countries and more than 100 cities around the world, facilitating a higher level of openness in international trade.