In recent years, Yiwu has fully implemented the decisions and plans of the Zhejiang Provincial Party Committee and the Provincial Government, focused on key industries, promoted the development of an open economy driven by the Belt and Road Initiative, and striven to be a model in the construction of the “important window,” as President Xi Jinping proposed that Zhejiang “strive to become an important window for fully demonstrating the superiority of the socialist system with Chinese characteristics in the new era”. Yiwu has been awarded by the Zhejiang Provincial Government for two consecutive years for achieving remarkable results in building an important hub under the Belt and Road Initiative.

Ships operate at the Port of Los Angeles and neighboring Port of Long Beach.

According to the statistics of Yiwu Customs, from January to May 2022, Yiwu’s total import and export volume was 183.14 billion RMB, an increase of 43.7% over the same period last year. Yiwu’s exports amounted to 167.83 bn RMB, an increase of 39.8% year-on-year, while the imports were 15.31 bn RMB, a year-on-year increase of 107.3%. The growth rates of Yiwu’s total imports and exports, exports alone, and imports alone were 26.1%, 18.4%, and 99.3% higher than Zhejiang’s averages, and their volume accounted for 10.0%, 12.5%, and 3.2% of that of Zhejiang, respectively.

Moreover, Yiwu has been approved as a national innovation demonstration zone for import promotion, a national base for secondhand car exports, a national reform pilot for market optimization and upgrading, and a designated regulatory port for imported frozen aquatic products and fruits.

Promoting the Interconnection of Important Hubs

Yiwu has witnessed the rapid development of sea-rail multimodal transportation along the Yiwu-Ningbo-Zhoushan Corridor. The transportation volume of Yiwu’s sea-rail multimodal transportation in 2021 was 68,000 TEUs. The transportation volume from January to June this year reached 40,200 TEUs, and the annual volume is expected to reach 80,000 TEUs. Yiwu has continuously promoted the construction of the Yiwu-Ningbo-Zhoushan Corridor and the upgrading of ports, customs, and shipping services.

The Yiwu-Europe China Railway Express (CRE) has opened 17 lines from Yiwu to Madrid, Prague, Moscow, and more, reaching more than 160 cities in over 50 countries and regions in Eurasia as well as 101 overseas stations. Since its launch in 2013, the Yiwu platform has sent over 4200 trains and transported more than 345,000 TEUs. In the first half of 2022, the trains of the Yiwu platform have run 808 trips, a year-on-year increase of 9.5%. The Yiwu platform provides an important logistics channel between the Yangtze River Delta region, Europe, and Central Asian countries. With the continuous growth of transportation volume, the Yiwu platform has begun to focus more on the improvement of transportation quality and strived to become a highlight in the construction of the “important window.”

Deepening the construction of the Yiwu-Ningbo-Zhoushan Corridor and improving the transportation volume and quality of the Yiwu-Europe CRE trains are two important measures taken by Yiwu for the construction of the Belt and Road. According to the spokesman of the Yiwu Development and Reform Bureau, Yiwu will constantly improve the construction of a comprehensive transportation hub and advance the construction of the Yiwu-Suxi international hub port and phase II of the railway port project.

Promoting Multi-Dimensional Trade with Industrial Cooperation

To date, Yiwu has built 157 overseas warehouses around the world, with a total operation area of more than 1.06 million square meters, covering 97 cities in 50 countries on 5 continents. The digital international logistics platform of Zhejiang China Commodities City Group Co., Ltd. has opened 220 logistics lines, reaching more than 1100 major cities.

In addition, relying on its overseas stations, Yiwu Commodities City has set up “Take You to China” exhibition halls in 15 countries and regions, including the Czech Republic, Rwanda, Benin, Japan, Spain, and more. On June 30, Dubai’s Yiwu Market, the first overseas sub-market of the Yiwu Market under its “global strategy,” was officially put into operation. Moreover, the freight yard, the logistics center, and the trade service park of the Czech Station have been put into use. The Czech Station has been approved as an overseas economic and trade cooperation zone of Zhejiang Province.

Yiwu has achieved outstanding results in developing new business formats. With massive commodity resources and a flexible logistics system, Yiwu has developed a multi-dimensional trade pattern through industrial cooperation.

In order to expand the logistics channel for trades along the Belt and Road and further promote imports, Yiwu has introduced ten supporting policies to develop imports. In addition, Yiwu has built a new import market, a global digital free trade center, and a cross-border e-commerce industrial park. Yiwu has also expanded domestic trade services, promoted the construction of overseas trade platforms such as overseas warehouses, overseas stations, and overseas sub-markets, and built an overseas trade service system, which promotes Yiwu’s integration into the dual circulation system.

Developing digital innovation to promote trade

Chinagoods, a digital trading platform of Yiwu Commodities City, connects more than 60,000 physical stores and 2.1 million registered purchasers. During the pandemic, merchants released new products on Chinagoods and organized meetings for purchasers to place orders. Buyers can learn about new products and place orders directly on the platform, which has greatly improved the transaction success rate. The launch of Chinagoods is one of the important measures that Yiwu has taken to develop a new business mode of digital trade.

In recent years, Yiwu has promoted the construction of a trade center and a hub for the reform of digital free trade. As a node city for Zhejiang to establish a new development pattern and promote the construction of the Belt and Road, Yiwu has carried out a series of digital innovations for logistics and cross-border e-commerce. For example, Yiwu has obtained third-party payment licenses and can provide comprehensive services such as convenient customs clearance, information-based logistics, global supply chain services, and financial services. Yiwu has created “smart cloud warehouses” to reduce warehouse rent and the costs of supporting facilities for companies, and developed new business formats such as livestreaming and community e-commerce. Additionally, Yiwu has innovatively built a center for digital order fulfillment, which provides supply chain services such as procurement, logistics, and dropshipping for international orders.

Digital trade has become a “common language” among countries along the Belt and Road. To date, Shopee’s Yiwu Operations Center has been put into regular operation; AliExpress has launched a service center in Yiwu; Cainiao, the logistics affiliate of Alibaba, has opened a warehouse in Yiwu for its business in East China; the Alibaba International Station has set up a special section for Yiwu small commodities, and the Electronic World Trade Platform (eWTP) has essentially completed its sections such as cross-border exports, the digital supervision of cross-border retails, and market procurement.

Promoting Talent Exchanges for Deeper Connection between the People of China and Other Countries

In addition to organizing the “Daka* China: International Internet Communication in Yiwu,” Yiwu has also organized various cultural exchange activities: holding video meetings to promote the Yiwu-Karachi and China-South Sudan trade for small- and medium-sized companies; carrying out a series of activities for the “iYiwu” program (the pronunciation of “iYiwu” is the same as “love Yiwu” in Chinese); establishing an experience base for international volunteers to participate in the co-construction and charities of the city, and building brands of foreign affairs such as the global youth entrepreneurship training program, the lecture hall for internationals, and more. Yiwu has established friendly trade relations with 33 cities in 21 countries on 5 continents. All of these help international communities and people to understand more about Yiwu and China, adapt better to Yiwu, and feel closer to Yiwu’s people.

Yiwu has organized important fairs, including the China Yiwu International Commodities Fair, the China Yiwu Cultural and Tourism Products Trade Fair, and the China International E-Commerce and Digital Trade Fair, attracting more than 100 million online and offline visitors.

Furthermore, Yiwu has established a translation and interpretation team to provide 24/7 hotline services for internationals, launched a vaccination appointment system for international residents, and built a platform to share the anti-pandemic experience. Yiwu has organized video conferences between the Fourth Affiliated Hospital of Zhejiang University School of Medicine and more than 70 hospitals in 11 countries that have close contact with Yiwu, such as the United Arab Emirates and India, to export its anti-pandemic experience. (By Gong Yan, translated by Jin Haiqiong, edited by Kendra Fiddler)

Translator’s note: The term “daka,” meaning “punching a card” in Chinese, refers to the fashion of people taking quick trips to a series of popular places, and then posting pictures and anecdotes on social media.