Yiwu Global Digital Trade Center, touted as the sixth-generation market of Yiwu, a city in eastern China known as the "supermarket of the world," officially opened on Tuesday (October 14), marking a significant leap from traditional commerce to a fully integrated digital commerce ecosystem.
As a window into China's reform and opening-up and a barometer of global small commodity trade, Yiwu Market has undergone several transformations, evolving from a humble roadside bazaar into a modern international trading center. Each update has kept pace with the times and market demands. Now, Yiwu Market is fully embracing the digital era with the establishment of this new digital trading center.
This flagship project is equipped with state-of-the-art digital infrastructure, including a 10-gigabyte optical network and cross-border data transmission channels.
Covering a total area of 1.25 million square meters, the complex integrates five functional zones: a market area, office buildings, commercial areas, apartments, and a digital trading port. The market area currently houses more than 3,700 stores across eight emerging sectors, including fashion and jewelry, trendy toys, and smart appliances.
Within the facility, more than 3,700 new merchants can utilize the stable cross-border network to communicate and negotiate with global clients in real time.
They can also seamlessly livestream products to showcase their products directly to overseas customers, providing an immersive in-store shopping experience for shoppers thousands of kilometers away.
Zhu Xingping, deputy general manager of the Global Digital Trade Center, stated that the Chinagoods platform provides global merchants with one-stop services covering customs, foreign exchange, taxation, logistics, warehousing, and financing.
Sun Lingjuan, head of fashion brand Fuduolashijia, highlighted the efficiency of small merchants' artificial intelligence (AI)-powered video creation tools.
"Instead of memorizing scripts, a merchant can simply say random words like '12345' into their phone, add a little text, and within minutes, they can have a professional, multilingual product video," Sun explained.
