Yiwu, China, April 24 (Xinhua) – With the Paris Olympics on the horizon, Yiwu, China is once again in the spotlight for its thriving economy. The city, known for its small commodities industry, has seen a surge in orders for Olympic-related products as the global event approaches.
At the bustling Zhejiang Yiwu International Trade City, reporters observed a high demand for French-inspired products, with merchants flocking to place orders for sportswear, protective gear, and other supplies needed for the upcoming Olympics. The surge in orders is reflected in the “Yiwu·China Small Commodity Index,” which shows a consistent increase in the price index for sports and entertainment supplies since March.
Yiwu’s manufacturing sector has experienced significant growth in recent months, with exports of sporting goods increasing by 70.5% year-on-year in the first two months of this year. Notably, exports to France have seen a 42% year-on-year increase, reaching 540 million yuan.
The city’s success in seizing business opportunities during major events can be attributed to its diverse product range and commitment to innovation. With 75,000 business entities and over 2.1 million commodities in 26 categories, Yiwu Trade City has earned the reputation of being a “World Supermarket” where merchants can find any product they desire.
In addition to the wide variety of products available, Yiwu’s manufacturing companies have made significant strides in brand creation and product development. Companies like Yiwu Shengpai Sports Goods Co., Ltd. have transitioned from producing a limited range of products to offering over 600 items, expanding their presence in overseas markets and attracting a steady flow of customer orders.
Looking ahead, Yiwu’s import and export volume is expected to exceed 560 billion yuan in 2023, with a growth rate of over 15%. The city’s focus on high-quality development, new product launches, and investment in innovation will continue to drive its economic success and solidify its position as a global leader in the small commodities industry.
With a complete industrial chain supply chain and strong connections to global markets, Yiwu’s success serves as a testament to the economic vitality and resilience of China’s manufacturing industry. As the city prepares to welcome thousands of overseas merchants for the Paris Olympics, it continues to showcase the strength and potential of Chinese manufacturing on the world stage.