World Supermarket launches a new round of international trade reform

12-17-2024

The "World Supermarket" Yiwu has launched a new round of international trade reform. This reform is based on the "Overall Plan for Deepening the Comprehensive Reform of International Trade in Yiwu City, Zhejiang Province" approved by the State Council, aiming to further promote the development of international trade in Yiwu and bring new impacts to China and even global trade.

Yiwu, as the world's largest small commodity distribution center, is known as the "world supermarket". Its market gathers over 2.1 million types of goods from around the world, driving the development of 2.1 million small and medium-sized enterprises, and establishing trade relations with more than 230 countries and regions. Nearly 600000 foreign merchants come to Yiwu for procurement every year, with 28000 foreign merchants stationed in Yiwu, and over 650000 new business entities such as online and e-commerce.

The core content of this new round of international trade reform includes 97 specific reform measures in five aspects, including deepening market procurement and trade reform, accelerating the integration of domestic and foreign trade reform, improving the modern commercial logistics system, perfecting the factor market system and rules, and creating a first-class business environment. These measures aim to support Yiwu in exploring new paths in institutional opening up, promote the two-way development of "buying globally" and "selling globally", further unleash Yiwu's development potential, improve trade facilitation level, and enhance its competitiveness in the global trade market.

From the already implemented effects, Yiwu has taken the lead in implementing a number of reform measures, such as shortening the certification period for imported toys, opening the first brand overseas collection store, and opening a cross-border e-commerce industrial park. These measures have all achieved significant results.

In addition, the new round of international trade reform in Yiwu will also promote innovative development of import trade. Under the premise of safety and controllability, a positive list management system will be implemented for imported consumer goods that meet the conditions, the customs clearance process for goods on the list will be optimized, and comprehensive management of consumer quality, quantity, and safety will be strengthened through digital platforms. This will help enrich the imported varieties in Yiwu market and meet the diversified needs of domestic consumers.

In summary, the new round of international trade reform in Yiwu, known as the "world supermarket", has been fully launched and will bring new development opportunities and impacts to China and even global trade.