Yiwu, the world's largest wholesale market for small commodities located in east China's Zhejiang Province, continues to witness impressive growth. Home to over 2.1 million types of commodities, Yiwu trades with 233 countries and regions, making it a vital hub in the global supply chain.
In 2023, data from China Customs revealed that Yiwu's import and export volume surpassed 560 billion yuan (approximately $78.8 billion), with cross-border e-commerce playing a pivotal role in this expansion. The rise of live commerce, where sellers engage with buyers through livestreaming platforms, has significantly boosted international trade, enabling real-time interactions and transactions across borders.
Rafael Saavedra, a content creator from Venezuela who has been residing in China for about eight years, recently documented his experience in Yiwu. Through his engaging video, Rafael showcased the bustling trade environment, highlighting how livestreaming facilitates seamless international commerce and contributes to the city's robust economic growth.
Yiwu's embrace of live commerce reflects broader trends in the global marketplace, where digital platforms are transforming traditional business models. By leveraging livestreaming, businesses in Yiwu can reach a wider audience, offer instant purchasing options, and foster a more interactive shopping experience, catering to the needs of a digitally savvy global consumer base.
As Yiwu continues to innovate and expand its e-commerce capabilities, it stands as a testament to the dynamic interplay between technology and international trade, shaping the future of global commerce.
Reference(s):
cgtn.com
