Exhibitors at the 2023 Yiwu Commodities Fair take on the role of e-commerce anchors as they sell products online.

Employees of an e-commerce company in Yiwu efficiently handle their tasks by packing orders on a conveyor belt.

Anchor Wang Yanjie hosts live broadcasts for nine hours daily, with an average of over 1,000 orders per day.

In the Fenglang Trading Warehouse, there are thousands of items, and employees are skillfully locating them.

On July 28, inside the warehouse of Fenglang Trading Co., Ltd. (hereinafter referred to as Fenglang Trading) in Yiwu’s Kunlong E-Commerce Industrial Park, a rhythmic sound of barcode scanners echoed through the air. Dozens of skilled workers packed orders from various e-commerce platforms, and each package swiftly found its way along the conveyor belts in the sorting area. Meanwhile, on the other side, a young man maneuvered through a vast ocean of thousands of different products, pushing a 6-level shopping basket. With precision and accuracy, he located the exact items that customers had ordered. This busy scene has become a daily routine this year in Yiwu’s 32 e-commerce zones and 222 e-commerce villages.

Looking at its advantage in terms of product availability, Yiwu is renowned as the world’s largest hub for small commodities distribution. Within its market, there are 26 major categories with over 2.1 million distinct products. Even if you’re just starting out in the e-commerce industry, you can quickly find products you need.

Considering its logistical strengths, Yiwu has set up 210 overseas warehouses in 50 countries. There are also 19 overseas exhibition halls, forming a logistics network that spans across more than 700 cities worldwide. The cost of express delivery in Yiwu is lower than in most cities nationwide, inadvertently reducing the logistical expenses for SMEs.

Looking at the business landscape, Yiwu has established policies to stimulate the growth of various e-commerce segments, such as domestic, cross-border, and live streaming e-commerce. Through initiatives that span policy support, business-friendly conditions, a skilled workforce, and advantages in domestic express delivery, Yiwu is actively cultivating a favorable business environment for e-commerce companies.

According to the provided data, Yiwu’s e-commerce transactions have grown from 52 billion RMB in 2012 to 390.7 bn RMB in 2022, marking a growth of over sevenfold. This year, the growth of Yiwu’s e-commerce sector has remained steady. In the first six months, e-commerce transactions totaled 234.031 bn RMB, a year-on-year increase of 11.57%. Cross-border e-commerce transactions reached 64.65 bn RMB, a year-on-year increase of 12.92%. A remarkable 101,100 new e-commerce businesses were established, a year-on-year increase of 54.05%. By the end of June, the city had a total of 540,800 e-commerce businesses, a year-on-year increase of 28.21%. These businesses comprised more than half of Jinhua’s overall business entities and constituted one-third of all e-commerce businesses in the province.

“The e-commerce industry in Yiwu has always been a pioneer, despite facing challenges. We’re working harder to solidify our position and remain a leader in various areas,” said a representative from the Yiwu Market Development Committee. Looking ahead, Yiwu will focus on introducing new business approaches and enhancing the growth of e-commerce. (By Wu Fengyu)