SOUTHEAST ASIA COMMERCE AND INDUSTRY ASSOCIATION
DATUK DR. TEE SIEW KIONG OPENS NEW GATEWAY YIWU CITY IN CHINA, THE LARGEST WHOLESALE MARKET IN THE WORLD, FOR SOUTHEAST ASIA SMALL OR LARGE BUSINESS TO EXHIBIT AND EXPAND
On the 30th of May, 2019, Datuk Dr. Tee Siew Kiong with his delegation including the COO of Post Malaysia, has visited Yiwu city in China dubbed as "Sea of Consumer goods, Paradise of Shoppers". Receiving him was Mr. Wang Jian, the Mayor of Yiwu city also the vice Mayor of Jinhua Deputy Party Secretary of Yiwu. They had a long good discussion about cooperating together to bring the two region of China and Southeast Asia together. Major Wang Jian reaffirm his interest in Southeast Asia's products by agreeing to invite small to big businesses from the region to come to Yiwu to display and market their product at the city's exhibition hall.
Datuk Tee Siew Kiong as a Prominent Malaysian Chinese Politician, Former chairman of Johor State Tourism, Domestic Trade and Consumerism Committee, President of General Chamber of Greater China International Communications and Chairman of Sultanah Fatimah Foundation founded by the Sultan of Johor state and Yiwu also knowned as the largest wholesale market in the world this is a win-win situation and an absolute rejoicing news for businesses in Southeast Asia countries.
Here are some oustanding information about Yiwu city:
Located in the middle of Zhejiang Province and 130 km from Hangzhou, the capital of Zhejiang, and 300 km from Shanghai, Yiwu covers an administrative area of 1,105 km2 and has a built-up area exceeding 100 km2.The registered local population and non-local population of Yiwu has reached 760 thousand and 1.16 million respectively. Since the reform and opening up, Yiwu has stuck to and deepened the development strategy of “building the city by prospering commerce”. By focusing on the cultivation, development and upgrading of the market, and speeding up industrialization, internationalization, and urban-rural integration, Yiwu has charted a unique development path, thus making itself enlisted into 18 typical regions of reform and opening up in China.
Yiwu – A Harmonious City with Long History and Unique Charm.
The Qiaotou Site of Shangshan Culture unearthed in Yiwu demonstrates that there had been human beings living in Yiwu as early as in the Neolithic Age, more than 10 thousand years ago. Wushang County was founded in 222 B.C., renamed into Yiwu in the 7th Year of Wude Reign of Tang Dynasty (624 A.D.), and transformed from county into city in 1988. Yiwu bred a batch of celebrities and dignities with lofty ideals in the history, such as Fu Dashi, Luo Binwang, Zong Ze, Zhu Danxi, Chen Wangdao, Feng Xuefeng, and Wu Han. The millennium cultural heritage has formed Yiwu spirits as “Diligence, Uprightness, Integrity, and Inclusiveness”. Characteristic cultures like Daoqing folk art, Wu Opera, and martial art endow Yiwu with unique charms, appealing to people of different ethnic groups with different religions from different countries and regions to Yiwu for investment, entrepreneurship and living.
Yiwu – A Commercial and Trade City with Vibrant Market and Unlimited Business Opportunities.
Yiwu market covers an area of 5.5 million square meters with 75,000 booths and shops selling 1.8 million varieties of goods in 26 categories. Yiwu has released China’s first “Market Credit Index” and industrial standard, Commodities Classification and Code. Yiwu market has been reputed as the largest wholesale market of consumer goods by the UN, World Bank and other authoritative organizations. Meanwhile, the e-commerce of Yiwu shows a vigorous development trend. There are more than 240 thousand accounts of various e-commerce sellers, and the big sellers on the cross-border e-commerce platform eBay make up 25% of such sellers nationwide. The average daily numbers of domestic and international expresses rank 6th and 4th respectively among the big cities of China.
Yiwu – An Open and Inclusive City Integrated into the World.
Nearly 500 thousand overseas merchants come to Yiwu for procurement each year and over 13 thousand overseas merchants from more than 100 countries and regions resident in Yiwu. In 2014, 842 thousand TEUs of commodities were exported to 219 countries and regions in the world, with export-oriented trade accounting for 65% of the total transaction. Yiwu has set up a 100-square meter Imported Commodities Mall and attracted 55 thousand sorts of overseas commodities from more than 100 countries and regions. Currently, the city is actively planning the construction of three new zones, “Silk Road New Zone”, “Land Port New Zone”, and “Science Innovation New Zone”, and striving to accumulate more high-end resource factors in the big picture of opening to the outside world.
Yiwu – An Entrepreneurial City Full of Vitality and Forging ahead with Determination.
There are 13 national industrial bases, one national economic development zone, one provincial industrial park, 240 thousand market entities, and 37 thousand enterprises, and a batch of industrial “single champions” in Yiwu. Its output of seamless underwear occupies 30% of the world total and 80% of national total. Yiwu is the important starting point of New Silk Road. The “Yiwu-Xinjiang-Europe” Freight Train across Eurasia run soundly with the whole route distance over 13,000 km. With the fully-equipped air port and bonded logistics center, Yiwu is listed as an international land port by the UNESCAP. It is the largest distribution center of breakbulk cargo in China. Yiwu’s logistics network covers 321 prefecture-level cities around the country via highway, railway, and aviation. The developed exhibition, flexible financing, and convenient logistics attract more and more merchants to invest and start business here.
Yiwu – An Innovative City committed to Reform.
As a national comprehensive reform pilot city of international trade, Yiwu is bold in exploration and plays a leading and exploratory role. At present, the trade mode of market procurement has been approved for trial implementation and the schemes for specific national land reform and specific financial reform have also been approved for implementation. Yiwu is China’s first pilot city to conduct individual cross-border RMB business, China’s first county-level city with the examination and approval right of inviting foreigners to China, and Zhejiang’s first county (city) with the administrative rights of foreign trade operator registration. It is listed as a national reform pilot city of new urbanization, a national test zone of rural reform, and a national pilot area of rural land system.