Keeping the flame alive in paradise city for merchants

Economic transformation must be development-oriented now

Hangzhou - Yiwu is often considered a success story for rapid economic development. Over the 10 years since China entered the World Trade Organization, Yiwu has made several remarkable economic strides. The average daily passenger flow through the city in Zhejiang province has risen to more than 200,000 and the number of containers shipped from it to more than 200 foreign countries and regions is in excess of 1,000. The city is also home to more than 7,000 merchants from 100 countries and regions.

Along the way it has also earned several epithets that describe its economic transformation. It has been called "the sea of small commodities, paradise of consumers" and also the largest market in the world. But more important, it is now seen as an emerging global and specialized market for modernization and commercialization.