Yiwu International Trade Center & Bingwang Market 2010 Annual Turnover Reached 45.6 Billion Yuan

- Jan. 08, 2011

Commerce and Industry Bureau announced yesterday that according to the latest data, 2010 Yiwu International trade center(including Bingwang market) turnover is 45.606 billion yuan, increased by 10.8% compared to last year.

This is the first time the turnover exceed 45 billion yuan, also it is the best growth of market in the last decade.

Statistics provided by the Commerce and Industry Bureau show that 2000 -2009, the turnover of Yiwu Commodity Market has remained at 7% -10% increase. In the same period, from the City Bureau of Foreign Trade statistics show that in 2010, 1-11 months, total import and export of Yiwu 28.1682 billion U.S. dollars, an increase of 32.72%, of which 25.9735 million U.S. dollars export, an increase of 35.08%. The latest issue of climate index also showed Yiwu in November 2010 than in October sentiment index rose 0.2%, which benefits index rose 1.1% this year, it is the highest level over the same period in last three years.

In the morning of January 5, in Yiwu market the jewelry district, most of the stalls are busy with ordering and packing. Businessmen are busy with looking for products and asking the price. The jewelry district was crowded with people coming and going. The market opened in less than 2 hours and one of the stall said he already received four orders.

Cai Shiyong, another jewelry dealer also said their products now are made of crystal instead of resin before, and it becomes more high-end. With better out-looking and better quality, more orders come.

It is reported that since the financial crisis, jewelry is becoming one of the industries which is most affected. However, Zhejiang Jewelry Industry Association statistics show that in 2010, jewelry sales were significantly warmer than in 2009 rose by about 10%, and businessmen generally reflect the increase in sales mainly to rely on new technologies, new materials, new products. At the same time, other typestify with "Only innovation will not be eliminated." City Statistics Department data also confirmed this point, as of November 2010, Yiwu China industrial output value of 5.097 billion yuan of new products, and last year increased by 49.2% year on year, accounting for 10% of all industrial output.

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