Yiwu economy


"Yiwu is famous in China as a commodities center. People from all over the world come to Yiwu City to buy commodities for resale in other parts of China or abroad. 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, the market has become a shopping paradise for tourists. The GDP reached 42.1 billion yuan in 2007, an increase of 15.7% from 2006, and the per capita GDP reached 59,144 yuan (US$7,778). The per capita urban disposable income reached 25,007 yuan and rural pure income 10,255 yuan, increasing 15.9% and 16.4% respectively. Its 4C-grade airport has opened over a dozen of air routes to such cities as Beijing, Guangzhou, Shantou, Weifang and Shenzhen. The Zhejiang-Jiangxi Railway and Hangzhou-Jinhua Expressway pass through the city, making Yiwu an important local transportation hub. Express trains from Shanghai South Railway Station take less than three hours. "Yiwu,300 kilometers away form Shanghai , is the largest market of petty commodity wholesales in the world where various foreign buyers go to place orders." Such a depiction comes from Chinese Figures Astonishing the World, a special report co-delivered by the United Nations,the World Bank and Morgan Stanley. In that special report, Yiwu is the only enlisted county ecounomy. And in the choice of "the 2004 Most Favorite Chinese Cities of Domestic and Foreign Public in 2004 ", Yiwu ranked the first among all county-level cities.

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