International Markets in Yiwu
Du Yuegang is engaged in international freight shipping. He established a supply chain management company in Yiwu, which focuses on logistics routes to and from India. Over the years, Du has accumulated more than 300 Indian customers.
Du has two international warehouses with a total area of 3300 m2. One is located at Yiwu Port, covering an area of 1000 m2, and the other one is located at Niansanli Subdistrict, covering an area of 2300 m2. Every year, 120-150 Indian customers store their purchased goods at the two warehouses before transporting them back to India. The onset of COVID-19 stopped many purchasers from coming to China, however, and as a result Du’s warehouses were almost vacant.
In early April, Du made an announcement that he would provide his warehouses free of charge for businessmen in the Yiwu market who needed warehousing. Many businessmen suffering from overstock came to him.
Later, it occurred to Du that with his customer resources, he could match purchasers with the businessmen who store goods at his warehouses. His international customers strongly supported this idea. With the consent of the businessmen, purchasers began to order the goods they needed. The previously idle warehouses became international markets.
Now, the businessmen have places to stock their goods and even expand their sales channels; international purchasers can place orders without coming to China or waiting for goods production; and Du’s company is retaining its customers and has turned the crisis into an opportunity. (By Jia Ao, translated by Jin Haiqiong, edited by Kendra Fiddler)