Jinhua: Great Market, Great Opportunity

Post Time: 2019-11-21

      According to the statistics of the Jinhua Bureau of Market Supervision, in 2018 the 91 market areas with a value of over 100 million RMB in Jinhua had a total transaction volume of 316.465 billion RMB, an increase of 3.12% since last year. There are five markets with annual transaction volume exceeding 10 bn RMB: Yiwu International Trade City, Yongkang China Science and Technology Hardware City, Dongyang Huayuan Redwood Furniture City, Jinhua Agricultural Products Wholesale Market, and Yongkang China Hardware Mall. In 2018, the transaction volume of Yiwu International Trade City was 135.842 bn RMB, that of Yongkang China Science and Technology Hardware City was 48.02 bn RMB, and Dongyang Huayuan Redwood Furniture City's reached 19 bn RMB.

      The data shows that each year, more than 500,000 international merchants are trading in Yiwu, and more than 15,000 international merchants are residing in Yiwu for most of the year. Products from Yiwu are exported to more than 210 countries and regions around the world. Jinhua is also equipped with significant elements of infrastructure like an airport, railway, seaport, and postal services.

      Jinhua has opened more than 3,000 domestic freight lines; the business volume of express delivery ranks second in China; the number of online retail sales ranks sixth; the number of Taobao villages (334) ranks first; and cross-border retail exports ranks first in Zhejiang Province. Since the first Taobao shop was set up in Qingyanliu Village in 2007, the number of Taobao shops has expanded to 4,000, with over 20,000 employees. Last year, the transaction volume of the Taobao shops in Qingyanliu Village reached 6 bn RMB. Another famous Taobao Village, Beixiazhu Village, has more than 50,000 transplants living there for e-commerce business, while it has only 1,400 local villagers.  Due to the increase of population, this village has developed significantly. Now it has supermarkets, flower shops, hairdressers, etc., almost like a small city.

      The China Railway Express (CRE), which began operations in 2014, carried out more than 168 round trips in 2017, 320 round trips in 2018, and 500 in 2019 so far. “In the past, all goods from Yiwu to Europe came by sea, taking 35 to 45 days in a single trip, not to mention the potential risk. Now that we have the CRE, it takes only 21 days to get to Europe. It's both quicker and safer,” said Lin Hui, director of C.F. International Logistics. The starting station of the CRE is Yiwu, the world's largest distribution center for small commodities, and the terminal station is Madrid, the largest distribution center for small commodities in Europe. Its total operating mileage is 13,052 kilometers, passing through 8 countries.

      To date, the CRE has 11 lines, going from Yiwu to Central Asia, Russia, Central and Western Europe, and the United Kingdom, covering 35 countries and transporting nearly 2,000 daily commodities such as clothing, bags, and hardware tools from eight provinces or province-level cities, including Zhejiang, Shanghai, Guangdong, Anhui, and Jiangsu. At the same time, imported products such as Spanish wine, Czech crystal glasses, and Russian milk are continuously shipped to China, attracting buyers from all over the world. (By Dai Weiwen, translated by Li Ziyi, edited by Kendra Fiddler)


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