Large export revenues from smaller goods

Yiwu, the largest wholesale market for small commodities in the world, is vigorously exploring new models for foreign trade to boost exports, employment and the development of small and medium-sized enterprises.

The city has further increased its allure to international markets through cooperation and international competition, said local officials.

Last year Yiwu exported a bewildering range of small commodities as it shipped 1.8 million items to 219 countries and regions. The United Arab Emirates, Iran and Iraq - areas along the Silk Road Economic Belt and the 21st Century Maritime Silk Road - ranked among its top five export destinations.

The value of the city's exports and imports totaled 148.6 billion yuan ($24 billion) last year, up 28.6 percent from 2013.

Exports totaled 145.64 billion yuan, an increase of 28.8 percent, much higher than the national growth rate of 8.7 percent and the provincial average of 8.8 percent.

Yiwu became the 10th pilot city in China for comprehensive reform after the State Council approved a guideline on international trade in 2011. It was also the country's first county-level city included in the comprehensive reform program.

Wholesale purchases generated $17.8 billion last year, 75 percent of Yiwu's total exports.

It has also built a modern trading system combining e-commerce and traditional business, said Xu Jia'ai, Party chief of Jinhua city, which administers Yiwu.

E-commerce sales in Yiwu generated 115.6 billion yuan and 950,000 parcels in 2014, sixth among cities in China. International express was used for 350,000 packages, fourth in the country.

Eleven cities in Zhejiang including Jinhua, Wenzhou and Hangzhou are among the top 100 e-commerce cities in the country, according to a report released in June last year by AliResearch, an affiliate of Alibaba Group Holding Ltd.

Yiwu has also benefited from international cooperation as China plays an increasingly important role in promoting common development around the world.

A freight rail line between China and Europe continues the momentum in economic cooperation, President Xi Jinping said when he met visiting Spanish Prime Minister Mariano Rajoy in Beijing last year.

He said China welcomes Spain's participation in the construction and operation of a transcontinental railway from Yiwu to Madrid, the capital and largest city of Spain.

On Nov 18, the first China-Europe freight train set off from Yiwu carrying 82 containers loaded with stationery, crafts and products for the Christmas market.

The 13,052-km trip set a record for the longest freight train journey between China and Europe.

The train returned to Yiwu 24 days later with 64 containers packed with wine, olive oil and other Spanish products.

Ana Botella, mayor of Madrid, said the railway that made the historic feat possible was like a "new Silk Road for the 21st century, except that now the commerce will travel in both directions", Xinhua News Agency reported.

dongjidong@chinadaily.com.cn

(China Daily 03/28/2015 page16)