Small is beautiful for trade hub that adapts

HANGZHOU — “This crystal clock looks so nice; how much is it?” Kauthar Ding asked a shop owner in the Yiwu International Trade Market in Zhejiang province.

After finding out the price, she used her smartphone to relay the information to a client thousands of kilometers away. “It’s 115 yuan ($18),” she said in Arabic.

The Palestinian merchant shook his head. “It’s a bit expensive,” he said, and Ding moved to the next booth.

Yiwu, China’s small commodity hub, is widely known as the world’s supermarket. This practice has become commonplace for those working in foreign trade since the outbreak of COVID-19.

“We used to accompany our foreign clients to order goods in person, but now we have to observe and describe the products in detail for them. Sometimes, we also place orders for them,” Ding says.

Despite being in China, the 24-year-old is basically living in Palestine’s time zone, six hours behind local time.

Demand for small commodities from China have defied such inconveniences and high shipping rates, as they prove popular with global traders, says Ding.

After a virtual tour of several shops, Ding’s Palestinian client ordered half a container of crystal crafts.

Changes happen, but the determination of Yiwu business owners to develop new products and explore new markets remains strong.

Wang Xuxue of Miaomiao Toy Company recently found that the top sellers in her shop have changed from children’s satchels and hats to interactive toys such as the “dancing cactus”, which can store hundreds of songs and repeat what people say.

“Sea shipping fees have remained high over the past two years. If we still make the same products, we cannot survive,” Wang says.

Fortunately, Wang noticed the growing demand for interactive toys in overseas markets and led her team to expand further. This resulted in a 10 percent sales growth for the company last year.

“For these trendy toys, my clients are even willing to use air transportation, which is rare for plush toys,” says Wang, adding that even though airfreight has risen from about 35 yuan to 50 yuan per kilogram, some 3,000 of the toys are still sold on a daily basis.

As for Chen Fangfang, who sells home textiles in the market, innovation is her greatest asset. She believes that although different countries have specific preferences for home textiles, new products of good quality will always be in demand.

“From the fabric to the pattern, we update our products every week to meet customers’ ever-changing needs,” Chen says. The turnover of her company exceeded 100 million yuan last year, marking considerable growth compared to a year before.

Demonstrating vitality and resilience, Yiwu’s foreign trade has delivered good results in the shadow of COVID-19.

According to customs statistics, in January and February this year, Yiwu’s total amount of imports and exports reached 73.76 billion yuan, with a yearon-year growth of 47.8 percent.

Chen has set a goal for her home textiles company this year to enter five new overseas markets, such as Poland.

“It’s about being proactive, looking for more opportunities and resources that suit our position, and sticking to our strategy and objectives,” Chen says.