Yiwu’s trade on solid track after outbreak
Yiwu, known for small commodities trade in East China’s Zhejiang province, has reported excellent outcomes in business and production resumption, while ensuring effective measures in epidemic control and prevention with more than 1.4 million people returning to work after the Spring Festival holiday.
In the first four months of 2020, Yiwu’s total value of foreign trade was 69.18 billion yuan ($9.71 billion), with imports increasing 54.78 percent year-onyear. Industrial investment totaled 3.21 billion yuan, up 18.7 percent year-on-year. Companies in Yiwu achieved an industrial output value of 5.12 billion yuan between January and April, increasing 8.3 percent year-on-year.
Key projects including the construction of a national-level logistics hub are hitting their targets. Local officials said the logistics hub will support Zhejiang to become a multimodal transportation pilot demonstration zone combining sea ports, airports, land ports and information ports under one roof.
The Yiwu government has taken a series of measures to relieve external pressures and motivate businesses to seize opportunities and reduce uncertainties brought about by the outbreak of COVID-19.
A special service team focusing on analyzing and evaluating risks on a daily basis was established to assist government decision-making. Strict market management measures, which cover setting up disinfection areas, disinfecting public areas and checking on the proper use of facial masks, were introduced in the fight against COVID-19.
The Yiwu International Trade Market, one of the largest small commodities trade hubs in the world, is a key player in the global daily consumer goods trade. Its reopening plays a significant role in stabilizing China’s foreign trade and restoring business confidence in production, according to local officials.
According to Zhu Xingping, general manager of Yiwu International Trade Market, the market resumed operation in its District 1 and District 2 on Feb 18. District 3,4 and 5, and the International Production Materials Market were open for business on Feb 24.
“We made preparations in advance to ensure stability and safety,” Zhu said.
All merchants need to process a health declaration via WeChat and get a personal QR code. The code, identity certificate and location record of the past 14 days must be submitted to enter the market, according to the local government.
Support has also been provided to people returning to work since Feb 4. Yiwu provided free accommodation and meals for workers who needed to be kept in quarantine. More than 10,000 workers have received such services.
In response to the epidemic situation overseas, the Yiwu government set up special business service teams to coordinate related matters. Government staff members were assigned to airports in cities such as Hangzhou and Shanghai to assist foreign businesspeople who planned to go to Yiwu.
Apart from strongly supporting foreign trade, the Yiwu government has spared no effort in supporting domestic trade. More than 20 government delegations have been sent to 27 cities and provinces in China since March 10 to expand the domestic sales network. Contacts have been established with more than 115,000 domestic buyers and 287 markets. In addition, contact has also been established with more than 10,000 overseas buyers.
Businesses at the Yiwu International Trade Market have also embraced the use of livestreams in response to declining demand. Many livestream hosts, including some celebrities, have been to
Region back to work thanks to decisive government action
Yiwu’s markets to help companies sell products.
Statistics from the local government show that more than 34,000 livestreams were broadcast in Yiwu, generating 4.32 billion yuan in sales revenue in the first four months of 2020, accounting for nearly onetenth of total online domestic sales in Yiwu.
Long at the forefront of foreign trade in China, Yiwu is home to more than 2 million small and micro-sized businesses, and sells commodities to 38 million buyers in 219 countries and regions every year. Compared to large companies, small companies are more vulnerable to market turbulence, according to local officials.
The Yiwu government decided to provide rental relief and exemption to businesses at the Yiwu
International Trade Market to support small and micro-sized businesses. In February and March, the total rent reduction and exemption was nearly 350 million yuan. Meanwhile, the Yiwu government also sent personnel to support small and micro-sized enterprises’ epidemic control and prevention.
In handling reopening requests from thousands of e-commerce businesses, the Yiwu authorities allowed companies which met epidemic prevention and control standards, to submit applications through WeChat.
By the end of February, all major trading companies had resumed production. Local government also arranged matchmaking for foreign trade and e-commerce businesses to serve market demand.
Visitors check on products at a stationary trading fair in Yiwu in April. Government staff members in Yiwu visit a livestream platform to learn about local business situation.