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E-commerce industry surges in Yiwu

chinadaily.com.cn| Updated :2023-02-27

The e-commerce industry in Yiwu, Zhejiang province, has experienced a significant surge since the beginning of the year, according to local media outlets.

The Yiwu International Land Port E-commerce Mall has welcomed 39 new e-commerce and e-commerce service businesses this year, bringing the total number of such businesses to nearly 500.

As of Feb 15, the city had added 16,062 new market entities in the one and a half months from the Chinese New Year, including 11,686 e-commerce entities, accounting for 72.76 percent of the total.

In January, internet celebrities in Yiwu carried out 61,000 livestream sales events, generating 4.18 billion yuan ($599.88 million) in total retail sales, increases of 41.86 percent and 16.34 percent year-on-year, respectively.

The local government of Yiwu has also provided a conducive environment for the growth of the e-commerce industry through policy support, free training, and the creation of platforms for communication and cooperation. Various measures have been taken to promote e-commerce and ensure efficient logistics services. For example, the Yiwu International Land Port E-commerce Mall, under the guidance of the Yiwu market development commission, has organized various e-commerce industry salons providing entrepreneurial incubation, talent recruitment, live streaming training, legal and financial support for enterprises.

In January, the value of Yiwu's e-commerce transactions increased by 14.81 percent yearly to 30.01 billion yuan. Five major logistics parks in Yiwu, which began operating on Jan 31, have already handled more than 300,000 metric tons of cargo.