A used vehicle export base was unveiled in Yiwu, a county-level city in Jinhua, Zhejiang province, on Oct 9. The launch attracted numerous foreign buyers eager to explore the offerings.

The export base covers an area of approximately 2,000 square meters and leverages Yiwu's strategic location and concentration of international buyers.

It efficiently integrates supplier resources and market demand information to create a comprehensive platform for brand display, consulting, procurement, and test driving, aiming to become a hub for used car distribution and export.

Numerous foreign buyers visit the newly-launched used vehicle export base in Yiwu, Jinhua, Zhejiang province. [Photo/zgyww.cn]

Yiwu was one of the first cities to break into the industry, after being included among the second batch of national used car export pilot areas at the end of 2020. Utilizing its strengths in market, logistics, information, and foreign trade, the city's used car export business has experienced rapid growth.

In 2023, Yiwu exported 5,015 used cars with a total value of 900 million yuan ($127.35 million), an eleven-fold increase compared to the previous year.

According to the Yiwu bureau of commerce, there are currently 25 registered used car export companies in the city. From January to August this year, the city exported 3,985 used cars, a year-on-year increase of 140 percent, with new energy vehicle exports up by 59 percent.

The used vehicle export base features popular brands like BYD, Leapmotor, and Li Auto, alongside traditional fuel vehicles, offering a diverse product line.