Yiwu Futian International Trade City Market

Yiwu Trade City Overview

Basic Overview
Huge scale: Located in Yiwu City, Zhejiang Province, with a business area of more than 6.4 million square meters and 75,000 business seats, it is the world’s largest wholesale market for small commodities.
Abundant commodities: 26 categories and more than 2.1 million kinds of commodities are gathered, which are related to 2.1 million small and medium-sized enterprises and 32 million industrial workers in the country, ranging from needles and threads to all kinds of household goods, from toys and gifts to hardware and tools, and from garments and apparel to electronic and digital products, and so on.
High turnover: by 2022, the turnover will exceed 200 billion yuan, topping the list of professional markets in China for 32 consecutive years.
History
First Generation Market: In September 1982, Yiwu county party committee and county government made a decision to open up the small commodity market, the first generation of small commodity market — Huqingmen Market came into being, and the commodities were mainly sold to the surrounding counties and cities in Yiwu.
Second-generation market: at the end of 1984, Yiwu Taizu Temple Fan of the second generation of the market opened in the new market, trading places from the open air into the scaffolding under the scope of commodity circulation extends to the inside and outside of Zhejiang Province.
Third-generation market: In September 1986, Yiwu third-generation commodities market located east of the city’s middle road officially opened, and then after two expansions, by the end of 1990 has become China’s largest professional wholesale market of small commodities.
Fourth-generation market: 1992 built and opened Huangyuan market for the fourth generation of Yiwu Commodity Market, the same year renamed Yiwu City, Zhejiang Province, “China Commodity City”. 1995 November, Binwang market was opened, Yiwu market industries all moved into the hall indoor market.
The fifth generation of the market: from 2002, has built five phases of the market and put into use, that is, today’s China Yiwu International Trade City.
Layout and main commodities:
First District Market: covering an area of 420 mu, with a building area of 340,000 square meters. The first floor mainly deals with flowers, toys, etc.; the second floor mainly deals with headdresses, jewelry; the third floor mainly deals with festive crafts, decorative crafts, etc.; the fourth floor is a direct sales center for manufacturers. The degree of product exportation is more than 70%, and more than 95% of the merchants are engaged in foreign trade business.
The market in the second district covers an area of 483 mu, with a building area of more than 600,000 square meters. The first floor deals with bags, umbrellas, etc.; the second floor deals with hardware tools, accessories, etc.; the third floor deals with hardware, kitchen and bathroom, small household appliances, etc.; the fourth floor is equipped with a direct sales center of production enterprises, local characteristics of the pavilion and other high-quality goods trading area; the fifth floor is equipped with a procurement service center for foreign trade.
Market in the third district: the construction area is about 460,000 square meters. The first floor deals with pen and ink supplies, paper products and eyeglasses; the second floor deals with office and school supplies, sports and leisure goods and sports equipment; the third floor deals with cosmetics, zippers and buttons and other clothing accessories; the fourth floor is a direct sales center for manufacturers; the fifth floor deals with the painting industry.
The market in the fourth district: with a building area of 1.08 million square meters, it is the largest single market in China Commodity City. The first floor deals with hosiery; the second floor deals with daily necessities, gloves, hats, etc.; the third floor deals with footwear, threads and belts, etc.; the fourth floor deals with bra and underwear, belts and scarves; the fifth floor is set up as a direct sales center for manufacturing enterprises and a tourist shopping center.
The market in five districts: covering an area of 266.2 mu, with a construction area of 640,000 square meters. It is divided into five floors above ground and two floors underground, with more than 7,000 business spaces, mainly engaged in imported goods, bedding, textiles, knitting raw materials, automotive supplies and accessories, etc. The market is specially equipped with a service area for online merchants.
Supporting facilities and services
Basic services: the market has a full range of supporting services such as banking, postal services, industry and commerce, taxation, logistics and distribution, warehousing, website promotion, etc. It also has multifunctional systems such as e-commerce system, intelligent security system, logistics and distribution system, financial service system, etc., as well as facilities such as centralized air-conditioning, large-scale electronic display, broadband network, network TV, data center, elevated lanes around, large-scale parking lot, accommodation, catering and entertainment. Entertainment and other facilities.
E-commerce services: In 2012, Yiwu upgraded the original China Commodity City website to “Yiwubuy”, which binds the online stores with the physical stores one by one and provides a variety of services and functions. 2024, Yiwu International Trade City launched the big language model in the field of commodities trade and the newly upgraded chinagoods ai The newly upgraded chinagoods ai service platform helps merchants to expand their global business.
International Influence
Numerous foreign merchants: more than 15,000 foreign merchants from more than 100 countries and regions are stationed in Yiwu, with more than 8,900 foreign-funded entities of various types, and trade transactions with 233 countries and regions around the world.
Developed logistics: the first “YiXinOu” China-Europe liner departed from Yiwu in 2014, and as of September 2023, the “YiXinOu” China-Europe liner will be in operation.

Professional and efficient procurement services

Supplier screening and evaluation:
Qualification Audit: Professional procurement services will conduct a strict review of the various qualifications of foreign trade suppliers, such as checking the business license to confirm that its scope of business covers the category of goods provided, verify the production and management permits and other relevant documents to ensure that the supplier has the basic conditions for legal compliance to carry out business. For example, in the procurement of apparel products, to confirm that the supplier has the appropriate clothing production license.
Production capacity inspection: through on-site visits to factories, check the number of production lines, the number of workers and the advanced degree of production equipment, etc., to assess whether the supplier can meet the purchase order requirements on time and in quantity. Like for the procurement of electronic products, we should examine the efficiency of the assembly plant and the stability of the supply of parts and components to ensure that the output can be stable and meet the requirements of the product.
Quality control system review: to understand whether the supplier has a perfect quality inspection process and standards, from raw materials to the factory inspection of finished products and other aspects of the strict implementation of the corresponding norms, in order to predict the level of quality of the goods purchased. For example, when purchasing furniture, check its control measures on wood material testing, paint technology testing and other aspects.
Reputation and past cooperation evaluation research: to the supplier has cooperated with the enterprise to understand the situation, to see whether there is a breach of contract, product quality disputes and other bad records, choose the supplier with a good reputation for cooperation, to reduce the procurement risk.
Product selection and customization:
Market Trend Analysis: The procurement service team will pay attention to the international market dynamics and fashion trends to help purchasers select product styles, specifications, etc. that meet the needs of the target market. For example, when sourcing home accessories, we will analyze the current popular colors and style elements in different countries and regions, and recommend products that match them.
Customized service docking: If the purchaser has special product customization requirements, the service team will assist in communicating with the supplier to accurately convey the customization details to the production side, from product function customization, appearance design customization to packaging customization, etc., to ensure that the customized products can accurately meet the expectations of the purchaser and the preferences of the target market. For example, for a foreign supermarket chain to customize promotional gifts with its brand logo, the service team will follow up the whole customization process.
Price negotiation and cost control:
Cost Composition Analysis: Professionals will analyze the costs of the product in depth, including raw material costs, production costs, transportation costs, taxes, etc., as a basis for judging whether the supplier’s offer is reasonable, and to find out the space that can be compressed cost. For example, when purchasing toys, we understand the market price fluctuations of raw materials such as plastics and assess their impact on the total cost of the product.
The use of bulk purchasing advantages: consolidate purchasing needs, and strive for larger purchasing lots, so that by virtue of the scale effect of negotiating with suppliers to obtain better prices, discounts and better payment terms. For example, for stationery products, consolidating multiple purchase orders and negotiating with suppliers can often reduce the cost of purchasing a single product.
Multi-supplier price comparison: contact a number of suppliers to meet the requirements, access to different quotes and detailed comparison, taking into account the price, quality, service and other factors, to choose the most cost-effective partner. For example, in the procurement of hardware tools, a number of suppliers in different regions of the offer and supporting services to weigh, select the optimal option.
Logistics and transportation arrangements:
Transportation mode selection: According to the product characteristics, procurement quantities, delivery time and cost and other factors, a reasonable choice of sea, air, land or multimodal transport and other modes of transportation. For example, for the timeliness requirements are not high, large volume and heavy machinery and equipment procurement, usually will give priority to sea transport; for urgent need of high-value electronic products, may choose air transport to ensure timely delivery.
Freight forwarders and logistics providers to choose: select a wealth of experience in foreign trade logistics, service network covering the destination of the purchaser and reputable freight forwarders and logistics providers, responsible for customs clearance, customs clearance, warehousing, transportation and a series of operations to ensure that the logistics link is smooth and efficient. For example, when exporting a batch of garments to Europe, we choose a forwarder who is familiar with the customs clearance policies of European countries to deal with the relevant formalities to avoid the goods from being detained.
Transportation tracking and monitoring: the use of logistics information systems to track the real-time status of cargo transportation, timely feedback to the buyer, so that the buyer is ready to receive goods in advance and to deal with possible transportation delays and other issues. For example, when purchasing agricultural products, due to its shelf life and other restrictions, we should closely monitor the progress of transportation to ensure that the goods arrive on time and in good condition.
Quality inspection and after-sales protection:
Pre-shipment inspection: Arrange for professional quality inspectors or commission a third-party quality inspection organization to conduct random or full inspection of the products in accordance with the established quality standards before shipment by the supplier to ensure that the products comply with the contractual quality requirements and avoid receiving goods with quality problems. For example, when purchasing ceramic products, check whether there are flaws in their appearance.

Reasons for choosing Yiwu Trade City

Complete variety of commodities
Rich categories covered: Yiwu Trade Mart gathers 26 categories and more than 2.1 million kinds of commodities, no matter you want to purchase daily household goods, such as all kinds of tableware, bedding, cleaning tools, etc.; or fashionable clothing and apparel, including different styles of clothing and accessories for different age groups; or toys and gifts, hardware and tools, electronic and digital products, sports and physical supplies, and so on, all of them are available. Basically, as long as you can think of small commodities, you can probably find the corresponding sources here, which greatly saves the time and energy to find different kinds of commodities and run around in multiple markets.
One-stop shopping experience: for purchasers, especially those who deal with comprehensive commodities, there is no need to move from one place to another, and you can purchase all or most of the commodities you need at one time in Yiwu Mart, which is convenient and efficient to meet diversified purchasing needs and helps to improve the purchasing efficiency and reduce the purchasing cost.
Obvious Price Advantage
Scale effect brings low price: as the world’s largest wholesale market for small commodities, the huge trading scale makes many suppliers converge here, forming a strong scale effect. Suppliers can reduce unit costs through large-scale production and sales, such as raw material procurement can strive for more favorable prices, and thus more competitive in commodity pricing. Purchasers are often able to get lower purchase prices here than elsewhere, thus obtaining higher profit margins.
Adequate price competition: There are a large number of merchants operating in the same or similar goods in the trade city, and there is fierce price competition among them. Purchasers can easily compare three or even more products, and by comparing the price quotes, product quality, and supporting services of different merchants, they can choose the most cost-effective goods for purchasing, and strive for the most favorable purchasing price.
Abundant resources of high-quality suppliers
Strict entry audit: Yiwu Mart has a strict screening and auditing mechanism for suppliers, and will examine the suppliers’ business qualifications, production capacity, product quality control and other aspects. This ensures that the stationed suppliers as a whole have a certain degree of strength and credibility, buyers and their cooperation can be more assured, reducing the risk of encountering bad suppliers.
Various supplier levels: there are both large-scale direct sales centers set up by manufacturers, which can provide stable and high-quality sources of goods; there are also many small and medium-sized wholesalers, who operate flexibly to meet the requirements of different procurement volumes and different levels of purchasing needs, so that purchasers can choose the most appropriate partner according to their own actual situation.
Strong Internationalization
Extensive international contacts: Yiwu Trade City has trade transactions with 233 countries and regions around the world, with more than 15,000 foreign merchants from more than 100 countries and regions residing in Yiwu, and more than 8,900 foreign-funded subjects of various types. Purchasing commodities here, whether you want to export to developed countries in Europe and America, or expand to Southeast Asia, the Middle East, Africa and other emerging markets, you can easily find suppliers who are familiar with the corresponding market conditions and have experience in foreign trade, which facilitates buyers to carry out international business smoothly.
Perfect Foreign Trade Supporting Services: In order to meet the needs of a large number of foreign trade businesses, the Trade City is equipped with a very complete range of services such as banking, postal services, industry and commerce, taxation, logistics and distribution, warehousing, website promotion, etc., as well as multi-functional systems such as e-commerce systems, intelligent security systems, logistics short barge distribution systems, financial service systems, and so on. In addition, convenient international logistics channels such as the “YiXinOu” China-Europe liner also provide a strong guarantee for the transportation of goods, and the entire foreign trade process from commodity procurement to transportation and export can be completed smoothly here.
Keeping up with market trends
Rapid launch of new products: Many suppliers in the Trade City are rooted in the field of production and sales of small commodities, and are extremely sensitive to changes in the market, and are able to quickly capture the latest needs of different regions and consumer groups, and launch new product styles and functions in a timely manner. Purchasers here can take the lead in obtaining commodities in line with the trend, introduce them into their own sales channels to better meet the needs of end-consumers and enhance their market competitiveness.
Strong innovation atmosphere: The local government and the management of the Trade City actively encourage innovation, and create an innovative atmosphere by organizing various exhibitions, new product recommendation activities, etc., which promotes the suppliers to continuously push forward the innovation in product design, material, technology, etc. Purchasers have the opportunity to come into contact with more innovative commodities, which provide more choices for expanding their business.
Reliable Quality Assurance
Many quality control measures: on the one hand, the management of the Trade Mart will supervise and manage the quality of commodities and require traders to comply with the relevant quality regulations; on the other hand, purchasers can also appoint a third-party quality inspection organization or make use of the quality inspection services provided by the Trade Mart to inspect the quality of commodities before purchasing, and the quality of commodities can also be guaranteed.