Yiwu, located in east China's Zhejiang Province, stands as the world's largest wholesale market for small commodities. Amidst a global economic slowdown, Yiwu has continuously reinvented its business model, achieving impressive growth through innovative strategies.
A key factor in Yiwu's success is the adoption of live commerce. Live streamers broadcast in multiple languages, including English, Portuguese, and Spanish, making international trade more accessible and efficient. According to China Customs data, Yiwu's import and export volume surpassed 560 billion yuan (approximately $78.8 billion) in 2023, significantly driven by cross-border e-commerce.
Rafael Saavedra, a content creator from Venezuela who has lived in China for eight years, recently visited Yiwu to witness its bustling trade environment. In his video, Rafael showcases how live streaming facilitates international business, providing real-time access to a global market and contributing to Yiwu's economic vitality.
Yiwu’s integration of live commerce exemplifies how traditional markets can leverage technology to enhance global connectivity and drive substantial economic growth. This dynamic approach not only supports local businesses but also empowers entrepreneurs and consumers worldwide, highlighting Yiwu as a pivotal player in the future of global trade.
Reference(s):
cgtn.com
