Yiwu shifts to dual strategy: sell globally and buy globally
China's small commodities trade hub, Yiwu, long known as the "world's supermarket" for exporting small goods, is rethinking its economic strategy, actively implementing a dual strategy: "selling globally" and "buying from around the world."
When a city that for decades sent its goods to every corner of the planet decides not only to sell but also to actively buy, it signals tectonic shifts in global trade. Yiwu, once a symbol of Chinese exports, is now turning into a global import hub, offering Spanish ham, Malaysian durians and African handicrafts to shoppers. This is not just a change in product range — it reflects a new reality in which the Chinese consumer is becoming as important as the Chinese producer. Yiwu is embarking on a path of balance, proving that the economy of the future is built on two‑way flows of goods and ideas.
This city in eastern China has become a premier destination for shopping for imported goods from around the world. Yiwu's imported goods mall features an astonishing 150,000 product lines from more than 100 countries and regions. On the shelves, one can find items such as Spanish ham, Malaysian durians, Nepalese woollen felt and African handmade crafts. Zhu Ke, a shop owner specialising in Malaysian goods, has seen a steady growth in her customer base thanks to the rapid development of China's market and a significant improvement in customs clearance efficiency. "It used to be thought that the supply chain for edible bird's nests was long and complicated, making them difficult to import. But now, delivery of this delicacy from our factory in Malaysia, through Yiwu customs, to our bonded warehouse and finally to the buyer takes only three days. Malaysian Musang King durians can now go from orchard to consumer doorstep in just 24 hours," said Zhu. Edible bird's nests are nests created by swiftlets using solidified saliva, which are collected for consumption.
This rich variety of imported goods perfectly matches the increasingly diverse and personalised consumer needs of Chinese shoppers. As a result, sales volumes for vendors in the mall are growing exponentially. "The design, style and colours of these imported goods are unique and original, so consumers, especially the younger generation, love them. Overall, our import business is on a steady upward trend," said Jin Jian, another seller in the mall. Shoppers agree. "I bought a Nepalese scarf, Russian chocolate and honey," said one shopper, praising the variety of goods in the mall.
Yiwu, located in Zhejiang Province, has been the world's largest wholesale hub for small commodities for over 30 years. It exports more than $30 billion worth of goods annually to over 200 countries. However, with rising domestic consumption and changing demand patterns, the city has been actively developing its import sector. In 2023, a specialised imported goods mall was established, which quickly became popular with both wholesalers and retail shoppers. Customs procedures in Yiwu have been significantly streamlined, allowing delivery times to be reduced to a minimum. Official data showed that in the first half of this year, Yiwu's total import and export value reached 486.42 billion yuan (about $72.33 billion), up 19.9% year on year. Notably, the import value stood at 65.7 billion yuan, up an impressive 39.1%.
As CCTV+ reports, Yiwu, once known as the "world's factory," is now becoming a "world supermarket" in the full sense — not only for exports but also for imports. This transformation reflects a broader trend in China's economy: a shift from a production‑oriented model to one where consumption and imports play an increasingly important role. In the coming years, Yiwu will continue to expand its import flows, strengthening its position as a global trading hub where goods and cultures from around the world converge.
