The Yiwu International Trade Market in east China's Zhejiang Province, the world's largest small-commodity market with over 2.1 million enterprises, has brought together local brands to amplify their global market presence. The Yiwu Selection Showroom of Brand Source Suppliers opened in the Yiwu International Trade Market on Jan 10. It seeks to consolidate resources from diverse industries in international markets, assist emerging brands with limited global visibility, and lower the costs of expanding internationally.
"This is the first day and we got a lot of responses from all the customers," said Rick, a merchant at the Yiwu International Trade Market.
On the opening day, domestic and international buyers and merchants established numerous partnerships, signing orders totaling 120 million yuan (about 16.4 million U.S. dollars) within just five hours.
"The goal of establishing the Yiwu Selection is to help more Chinese brands expand overseas. We require that brands in the Yiwu Selection must have registered overseas, be enterprises with independent research and development capabilities, and have a strong desire to improve their brand presence. We gathered these brands and will go abroad together," said He Lihong, a merchant at the Yiwu International Trade Market.
After the selection, over 70 brands and more than 2,000 high-quality products, including daily goods, toys, and accessories, were showcased in the store.
Previously, goods from Yiwu had already reached more than 200 countries and regions worldwide, mostly through OEM (original equipment manufacturers) partnerships. This time, the Yiwu Selection aims to give products made in Yiwu their own identity and brand recognition.
"Yiwu used to make profits by exporting large quantities of goods. We used to focus on how much of our products could be exported to the world each year. But now, our profit margin is shrinking. Therefore, we need to develop our own brand, and we actually have the strength to do so," said Liu Bo, another merchant at the Yiwu International Trade Market.
Just eight days after the opening of the Yiwu Selection, the No.002 Yiwu Selection Showroom, in partnership with a Kenyan enterprise, made its debut, marking the expansion of Yiwu goods into new markets in Africa.
"It is of great significance to us. We hope to sustain the vitality of Chinese brands, and there will be unlimited opportunities in the future," said He.
China's largest small-commodity market empowers local brands to go overseas
