The Huangyuan Market of Yiwu China Commodity City was the first large-scale indoor small commodity market in China. [Photo by Jin Fugen/zjol.com.cn]
The Yiwu market developed into China's first large-scale indoor market in 1991.
In October 1991, the first phase of the Huangyuan Road Small Commodity Market started construction. With a total investment of 35 million yuan, the 103,000-square-meter main business building with 7,100 booths finished construction at the end of December.
Its second phase opened in October 1994. Covering an area of 71,000 square meters and housing 7,000 booths, it attracted new industries including daily necessities, electrical appliances, needles, cotton, wire and tape.
The market came to the world's attention in 2000 when the decision was made to build the Yiwu International Trade Market.
In 2005, it was recognized by authoritative world organizations such as the United Nations and the World Bank as the world's largest supermarket for daily commodities.
By the end of 2021, the business area of Yiwu China Commodity City reached 6.4 million square meters, with 75,000 booths and an annual turnover of 186.68 billion yuan.
A bird's eye view of the Yiwu International Trade Market. [Photo/zjol.com.cn]
