Explore The World's Largest Wholesale Market In Yiwu | WATCH: Yiwu, The World's Greatest Bazaar

Summary

Yiwu, a booming town in China's Zhejiang province, has transformed into a global trade hub in less than 30 years, housing over 2 million people. With its vast marketplace, Yiwu is home to the world's largest bazaar, where traders from across the globe flock to buy merchandise in massive quantities. The market spans 80,000 shops and 5 enormous halls, hosting an annual turnover of 24 billion euros. Known for selling a wide variety of products, from toys to Christmas decorations, Yiwu is also renowned for its security, featuring the highest concentration of CCTV in China, and a thriving economy with an impressive average income.

Takeaways

• 😀 Yiwu, a small village in southeast China, has transformed into a bustling metropolis with over 2 million residents.
• 😀 Yiwu is now the global hub for trade, specifically the world's largest market, attracting traders from every continent.
• 😀 The city's market consists of 80,000 shops and 5 massive halls, 25 times the size of the largest shopping center in France.
• 😀 Yiwu is known as the world capital of 'Made in China' products, including Christmas decorations, toys, and umbrellas.
• 😀 Each day, Yiwu exports 1,500 containers of goods to countries around the world.
• 😀 In 2017, the market's annual turnover reached a new record of 24 billion euros.
• 😀 The market in Yiwu sells 80% of the world's Christmas decorations, and half the world's umbrellas.
• 😀 Despite the shops being small, typically under 10 square meters, they are extremely valuable, with prices ranging from 500,000 to 1 million euros depending on location.
• 😀 It would take around three years to visit every shop in the market if you spent five minutes at each one.
• 😀 Yiwu boasts an impressive 1246 CCTV cameras, making it the most secure location in China with the highest concentration of surveillance.
• 😀 The city enjoys an average annual income of over 9,000 euros, a record in China, largely due to the lucrative business deals made in its markets.

Q & A

What is Yiwu known for?

Yiwu is known as the world's biggest Bazaar and a global hub of trade, where traders from around the world buy merchandise by the container load in massive shopping centers.

How old is Yiwu and what has it become?

Yiwu is less than 30 years old and has transformed from a village into a metropolis with 2 million inhabitants.

What is the size of the market in Yiwu?

The market in Yiwu is huge, with 80,000 shops and five gigantic halls, which are 25 times the size of the biggest shopping complex in France.

How much is Yiwu's annual market turnover?

In 2017, Yiwu's annual market turnover set a new record of 24 billion euros.

What percentage of the world's Christmas decorations are sold in Yiwu?

Yiwu sells 80% of the world's Christmas decorations.

What types of products are sold in Yiwu's market?

Yiwu's market sells a variety of goods including toys, traditional items, umbrellas, and even the most unexpected products.

How large are the shops in Yiwu's market?

The shops in Yiwu's market are relatively small, each covering less than 10 square meters.

How much can a shop in Yiwu cost?

Shops in Yiwu are worth around 500,000 euros, but depending on the location, their price can rise to 1 million euros.

How long would it take to visit all the shops in Yiwu?

It would take approximately three years to visit all the shops in Yiwu if you spent just five minutes at each shop.

What is the level of security like in Yiwu's market?

Yiwu's market is extremely secure, with 1,246 CCTV cameras on-site, making it the most monitored location in China.