Despite the increasing instability of the global economy during the period of pandemic prevention and control, Yiwu’s foreign trade continues its steady growth this year. According to statistics from Yiwu Customs, from January to May 2021, the total value of Yiwu’s imports and exports was 127.36 billion RMB, an increase of 25.2% over the same period the previous year, and Yiwu’s imports and exports accounted for 8.2% of those of Zhejiang Province. Among them, exports valued at 120.04 billion RMB, an increase of 23.4%, accounting for 10.8% of the province’s exports; imports valued at 7.32 billion RMB, an increase of 64.7%, accounting for 1.7% of that of the province.

Through analysis of the data of the previous five months, the trade method of market procurement was the main driving force for the market. Due to the obstruction of aviation and shipping, and the increase in the transfer of cargo sources of the China-Europe Express with the spread of the global pandemic, the Yiwu-Xinjiang-Europe CRE trains have maintained growing momentum against the trend. From January to May this year, Yiwu’s exports through market procurement valued at 94.74 bn RMB, a year-over-year increase of 33.4%, accounting for 78.9% of Yiwu’s total foreign trade exports, enabling Yiwu’s exports to increase by 24.4%. Among them, exports through market procurement in May totaled 26.74 bn RMB, an increase of 51.9%, accounting for 490.0% of Yiwu’s exports. (By Wu Fengyu, translated by Zhang Jiajia, edited by Kendra Fiddler)