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Yiwu International Trade City (Yiwu Wholesale Market) - District 1, Zhejiang, China

Yiwu International Trade City - District 1 Jinhua, Zhejiang, China 2023 November 4K UHD 60FPS Yiwu International Trade City (Chinese: 义乌国际商贸城), also known as the Yiwu Market, is the primary wholesale market complex in Yiwu, Zhejiang, China. According to the World Bank, it is the world's largest small commodities market. In 2022, the market sold around US$70 billion of goods. History In the early 1980s, Yiwu was an impoverished rural county historically known for its small traders, who mostly bartered sugar for chicken feathers during the Qing dynasty. However, the Chinese Communist Party banned the practice as "capitalist activity" after taking power in 1949. Although the Chinese government initiated the reform and opening policy in 1978, selling things for profit by private citizens was still banned in practice. In April 1982, Xie Gaohua was appointed Party Secretary of Yiwu. A month after his arrival, a street vendor named Feng Aiqian (冯爱倩) complained to him that her goods were repeatedly confiscated by county authorities and questioned why she was not allowed to sell goods to support her poor family. After their conversation, Xie travelled to Wenzhou, the first Chinese city to allow private enterprises, to conduct research, and decided that building a free market was compatible with national policies. In September 1982, Xie announced the establishment of Huqingmen Market (湖清门市场) in Yiwu under the guideline of "four permissions": permissions for farmers to enter the city, to conduct business, to engage in long-haul trading, and to compete with both state enterprises and private individuals. This was the first time in the People's Republic of China that a local government legalized a free market for farmers. When the market was opened in November 1982, it merely consisted of a few hundred sheds and stalls, but proved highly popular and grew quickly. In 1983, the county government spent 580,000 yuan (US$293,567) to build a new market consisting of booths. By the end of that year, there were more than 1,000 vendors selling over 3,000 products, most of them from outside of Yiwu. In October 1984, Xie proposed a new development strategy for Yiwu, with market trading as its pillar industry. Although he was transferred out of the county soon afterwards, the Yiwu Market continued its rapid growth and was rebuilt and expanded multiple times. The number of market booths exceeded 10,000 in 1991. In 2005, the World Bank called it "the world's largest small commodities market", and by 2013, it attracted more than 20,000 customers daily from all over the world and sold US$11 billion of goods annually. Layout The market is divided into 5 districts covering an area of 4 million square meters for 75,000 booths where 100,000 suppliers exhibit 400,000 kinds of products. The products come from around 40 industries and include 2,000 different categories of goods. Given its size and the variety of booths selling different items, the market is a vast labyrinth. District 1 Initial construction of the first complex of the market began in 2001 and was opened on 22 October 2002. District 1 covers an area of 340,000 m2 (3,700,000 sq ft) hosting 9000 booths and over 10,500 businesses. The complex cost 700 million CNY to construct. Yiwu Trade City District 1 has a wide variety of goods, covering multiple categories such as flowers, toys, accessories, and craft gifts. The specific floor distribution is as follows: 1F: mainly engaged in flower and toy products, including artificial flowers, flower accessories, plush toys, inflatable toys, electric toys and ordinary toys. There are many kinds of plush toys here, and some large toys are even suitable for use as cat beds. 2F: mainly engaged in accessories, including headwear, jewelry, etc. This floor has a wide variety of goods with different prices, including accessories suitable for daily wear and high-end jewelry with high customer unit prices. 3F: specializes in craft gifts, including festive crafts, decorative crafts, porcelain crystals, tourist crafts and photo frames. The goods here have certain artistic value. 4F: There is a direct sales center for small and medium-sized production enterprises and a Taiwanese business pavilion. At the same time, the East Auxiliary Room is a procurement service center for foreign trade enterprises. This floor is mainly for enterprises and foreign traders, providing one-stop procurement services. 00:00 Intro, going to the district 1 05:20 1F 25:36 2F 43:53 3F 01:11:40 4F Zhejiang, China - Chao's Travel Log / 中国浙江 - 超思旅行日志 Chao' Studio / 超思工作室 / Contact: [email protected]