China Commodity City (often shorted as CCC), is a large wholesale market of Yiwu, a city in the Zhejiang Province of the People's Republic of China.
China Commodity City was honored by the UN, the World Bank and Morgan Stanley amongst other world authorities in 2005 as the "largest small commodity wholesale market in the world". China Commodity City has three market clusters of International Trade Mart, Huangyuan Market and Binwang Market.
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[hide]Yiwu Market History[edit]
Yiwu is a hilly region with farmers as its natives. Poverty-ridden land left peasants with no option but trade for a living. As early as 1600s, trading flowered in Yiwu to never look back again.
It was in 1600s that Yiwu peasants started trading for chicken feathers as it was used as natural fertilizer for crops. They made some other attractive household articles using these feathers and even exported them. When there was not much to do in farmlands, they travelled across villages to sell sewing needles, threads and sugar chunks and what not. These city men were also named as Sugar Shoulder-pole Men in some rural areas. Soon they grew in number and many wholesale markets came into existence to cater them. It was only in 1949 when Planned Economy took birth in this place.
Planned Economy and Sugar-for-Chicken Feathers
Earlier, the trade system was considered to be capitalist and hence, never got appreciated. However, things didn’t change much in the mountainous Yiwu. People had no option but to be in the same business to survive, this time secretly though. It was illegal and thus once caught; their belongings were confiscated by the authorities.
Once a Yiwu Mayer, Xie Gao Hua carried out an investigation and found out that the secret wholesalers were in a better living conditions than that of the peasants. So he finally took the decision in the favor of wellbeing of people. Eventually the things changed and the free markets came into existence.
The First Free-Marketplace in Chinas History[3] In 1982, the local government put cement boards over a stink ditch nearby Huqingmen Street, and set up around 700 stalls. And it was then that Yiwu market was born. Over the course of time, Yiwu wholesale market has undergone several changes. Now Yiwu International Trade Center has the capacity for over 70,000 stalls earning huge profits of billions USD. It has surely become the world’s most popular wholesale market for various products.
Yiwu International Trade Mart[edit]
The International Trade Mart (Futian market) is the main one and the biggest. It currently covers an area of 4 million square meters, with 62,000 booths inside. 100,000 suppliers exhibit 400,000 kinds of products almost every day from 9 am to 5 pm (except the holidays of Chinese Spring Festival). The products are from around 40 industries and of 2,000 different categories. 65% of these products are exported to over 215 countries and regions. Futian market is more like a permanent fair instead of a traditional wholesale market. It has developed into an information, innovation, exhibition and distribution center for consumer goods.
District 1[edit]
Initial construction of the first phase of the Yiwu 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 10500 businesses. The complex cost ¥700 million to construct. It is divided into five main business areas: the Manufacturers Outlet Centre, the Shopping Centre, the food court, the warehousing centre and the "Subject of the Market" area. The 1st storey deals in flowers and toys, the 2nd storey jewellery, arts & crafts on the 3rd storey, manufacturer outlet centre on the 4th storey and a sourcing centre for foreign trade companies in the east subsidiary building. On average 40,000 people visit the complex every day, 5000 of whom are foreign visitors. Commodities from District 1 are exported to over 200 countries and regions.[1]
District 2[edit]
District 2(F & G) opened on 22 October 2004 providing over 600,000 m2 (6,500,000 sq ft) of floor space for over 8000 booths and 10,000 businesses. The first floor deals in suitcases & bags, umbrellas and raincoats; the second floor specialises in hardware tools, fittings, electrical products, locks and vehicles; the third floor specialise in kitchenware, sanitary ware, small home appliances, telecom facilities, electronic instruments, equipments, watches and clocks; the fourth floor is a manufacturers’ outlet centre and hosts the Hong Kong Hall, Korea Hall, Sichuan Hall, and other regional manufacturers halls; on the fifth floor, there is sourcing & service centre of foreign trade.
District 2 (H) is 460,000 m2 (5,000,000 sq ft) and has over 6000 booths. It specialises in cultural products, sports products, cosmetics, eyeglasses, zippers, buttons and apparel accessories. It also has a manufacturers’ outlet centre.[1]
District 3/4[edit]
Work on District 4 of the International Trade City was started in October 2007 and was constructed in two phases. The first phase was finished in October 2008 and the second phase was completed on 21 October 2008. It covers an area of 560,000 m2 (6,000,000 sq ft) with 1,739,000 m2 (18,720,000 sq ft) of floor space within the complex. The building provides room for 14,000 booths. This district specialises in daily necessities, knitted & cotton articles (including underwear, scarves, gloves, hats and cotton fabrics), footwear, belts, neckties, towels, wool items, lace items and other textile industries. In addition to hosting many of the afore mentioned industries the second phase also hosts the International Space Museum.[4]
District 5[edit]
On 5 May 2011 District 5 was completed at a cost of ¥1.42 billion. 5 storeys high with 2 underground storeys it covers an area of 640,000 m2 (6,900,000 sq ft) providing space for over 7000 booths and shops. The district specialises in imported commodities (including an African imports emporium), bedding, textiles, knitting materials, auto products and assorted accessories. It is located to the south of Chengxin Road and north of Yinhai Road, next to the 4th District.[5]
—==Huangyuan Market== Yiwu new Huangyuan market formally opened recently. It is located in the most prosperous business area of embroidered lake. The south of this market is Jiangbin Road, the south is Middle Chouzhou Road and the west is Huangyuan Road. The market covers an area of 117 acres and the building area is more than 420 thousand square meters. The total investment is RMB 1.4 billion.
Moved from Binwang Road to the river bank, the operating style of Huangyuan market upgraded from outside to inside. Compared with the 2.8 square meters open booth, Huangyuan market set up 14.4 square meters closed glass booth. It takes unit regionalism and the channel is capacious and bright. Thus satisfied the shop owners requirements of manage exhibit, field negotiation, on-the-spot trade. Meanwhile, broadband has been connected to households and the popularization of the POS machine have created favorable conditions for the Internet businesses of the shop owners. These will also promote the rapid development of intangible market.
Huangyuan market is divided into 8 floors overground and 1 floor underground. There are more than 5000 booths. From the first floor to the fifth floor are jeans, men's clothing, women's clothing, sportswear, woolen sweaters, children's clothing and so on. They are positioned as the professional clothing market. The eighth and the ninth floors are projected as local characteristic boutiques, which will adopt the predominant enterprises of clothing industry on national base.
The opening of yiwu Huangyuan Market will no doubt enrich the selling patterns of the commercial tenants. It will be good for the clothing industry to grow bigger and stronger. And we believe that more and more business clients from home and abroad will be attracted here. Yiwu commodity city will be moreand more famous and the economy will surely be promoted greatly.
Binwang market[edit]
Bedding Market, formerly Yiwu Binwang Market, composed by five trading blocks, Publications Center, and the International Trade Center, with more than 8,000 booths and over 20000 business entities in total. The main products are clothing, bedding, and it is the largest bedding market in Zhejiang Province. It was originally the food market, which later moved to Agricultural city.
References[edit]
- ^ a b c "International Trade City". yiwuchina.org. 12 July 2008. Retrieved 17 July 2011.
- ^ a b 吴波成. "Letter from the General Manager (总经理致辞)". Translated from Chinese. Zhejiang China Commodities City Group Co., LTD. Retrieved 17 July 2011.
- ^ Yiwu, Forum. "Yiwu market history". Yiwu information and news. yiwuforum. Retrieved 5 April 2012.
- ^ "International Trade City (Ⅳ)". yiwuchina.org. Retrieved 17 July 2011.
- ^ "5th District of Yiwu International Trade Mart". yiwuchina.org. Retrieved 17 July 2011.
Further reading[edit]
- Yiwu Market Survival Guide
- Peter Hessler (June 2007), "China's Instant Cities", National Geographic Magazine: 4, and an accompanying "Yiwu mall" video
| Yiwu International Trade Market | |
|---|---|
Yiwu Market
| |
| Alternative names | • Yiwu Futian market • Chinese Yiwu International Business and Trade Mall • Yiwu China International Trade Town Shopping and Touring Area |
| General information | |
| Type | Shopping mall |
| Location | Yiwu, Zhejiang, China |
| Coordinates | 29°20′23″N 120°06′40″ECoordinates: 29°20′23″N 120°06′40″E |
| Inaugurated | 22 October 2002[1] |
| Owner | Yiwu Municipal Government |
| Technical details | |
| Floor count | 5 |
| Floor area | 4,000,000 m2(43,000,000 sq ft)[2] |
| Other information | |
| Number of stores | 62,000+[2] |
History[edit]
Yiwu was founded in the Qin dynasty, around 222 BC. Yiwu's long history flourished as early as the Neolithic Age. Yiwu first became a county in 222BC and was renamed Yiwu County in the year 624 AD. In May 1988 the former Yiwu County was upgraded to a county-level city. In 1995 Yiwu ranked the 47th among China's 100 most powerful counties/cities regarding comprehensive economic strength and in the same year listed as Zhejiang's sole city among the nation's experimental counties/cities of comprehensive reform. In 2001 the Yiwu overall economy ranked 19th of all counties (cities) of China.
Yiwu's early culture has given birth to a number of notable figures in literature, art, military, education and engineering. Among these were Chen Wangdao, China's first translator of the Communist Manifesto; Wu Han, historian and former deputy mayor of Beijing; Zhu Zhixi, the engineer who harnessed the Yellow River, Zhu Danxi, one of the four distinguished doctors of the Jin and Yuan Dynasties, and Zongze, a well-known general from the Song Dynasty who resisted aggression by the State of Jin, and Wang Lee Hom, a famous singer.
Geography[edit]
Yiwu is located 100 km south of the city of Hangzhou, the capital of Zhejiang Province. The nearest city to Yiwu is Dongyang. The area, as in most of the Province of Zhejiang, is in a mountainous region.
Administration[edit]
Yiwu is part of the greater Municipal region of Jinhua, although it has a distinct urban core. On China's administrative strata it is a sub-prefecture level city. It has under its jurisdiction 15 towns and 8 villages, which covers 1,102.8 square kilometres, 100 square kilometres of which are urban area of 700,000 people (2010 estimate). There has been talk of merging the Yiwu and Jinhua areas into a single municipal zone or economic entity, but this plan has yet to make its way into any formal discussion.[citation needed]
Economy[edit]
See also: Yiwu market
Yiwu is famous in China as a commodities centre. The Yiwu market developed and managed by Zhejiang China Commodities City Group Co., Ltd. (Public, SHA:600415).[2] Yiwu's China Small-Commodity Market has for 6 consecutive years topped China's 100 top open markets and was for successive years listed as "China's civilized open market". It has been named as the banner of China's market economy and with a large variety of quality but cheaper commodities. There have been a significant increase in Arab traders since 9/11, as Middle East businessmen found it difficult to travel to the United States due to visa restrictions. The Arab presence has fostered the rise of many mosques and Middle Eastern restaurants.
The GDP reached 52 billion yuan in 2009, an increase of 9% from 2008, and the per capita GDP reached 71,457 yuan (US$10,461). The per capita urban disposable income reached 30,841 yuan and rural pure income 12,899 yuan, increasing 7.4% and 8.5% respectively.
Its 4C-grade airport has over a dozen of air routes to cities including Beijing, Guangzhou, Shantou, Weifang and Shenzhen. The Zhejiang-Jiangxi Railway and Hangzhou-Jinhua Expressway passes through the city, making Yiwu an important local transportation hub. By train it is less than 3 hours from Shanghai.
"Yiwu, 300 kilometres away from Shanghai, is the largest market of petty commodity wholesales in the world where various foreign buyers go to place orders", according to 'Chinese Figures Astonishing the World', joint report from the United Nations,the World Bank and Morgan Stanley. The city was ranked first among countrylevel cities In "the 2004 Most Favourite Chinese Cities of Domestic and Foreign Public in 2004".
| “ | As documented by the author Tim Phillips ... [t]he city of Yiwu ... functions as a sort of 'Wall Street' for the counterfeiting industry, providing a vast marketplace where, Phillips states, 100,000 counterfeit products are openly traded and 2,000 metric tons of fakes change hands daily. | ” |
—Eamonn Fingleton, 2008[3]
| ||
Cultural and social[edit]
Yiwu contains an Olympic quality stadium[citation needed]. Many events associated with trade take place in Yiwu City. Yiwu also has a sizable Chinese Muslim and Korean population, mostly working in the import and export businesses, as well as a very small Jewish population also in those businesses. It also has a large Christian Church. Yiwu is also known as the "sock town" as annually it produces over three billion pairs of socks for Wal-Mart,Pringle and Disney. Yiwu is also known as China's number one producer of fashion jewellery as firms are based in Yiwu as there are many factories making unbranded jewellery [4] and the amount of warehouses that are available to store the goods in.[5]
The Guyue Bridge, a stone arch bridge built in 1213, is one the few existing bridges of that era.
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