Yiwu Int'l Trade Market sees 235,000 visits on first business day in Chinese New Year

China

Yiwu Int'l Trade Market sees 235,000 visits on first business day in Chinese New Year

2025-02-09 22:58 Last Updated At：02-10 17:37

Yiwu International Trade Market, the world's largest small commodity hub located in east China's Zhejiang Province, welcomed a total of 235,000 visits on Sunday, the first business day after the nation's Spring Festival holiday.

This figure marks a 3.07 percent year-on-year increase. The bustling marketplace also saw around 75,000 businesses open their doors to serve customers on Sunday.

At a fashion accessories store at the market, some hair accessory products designed by AI has caught the attention of foreign buyers.

"I saw several images of hair accessory designs generated by AI, and some products. I think they are very nice and innovative," a merchant from Turkmenistan said.

"Our customers find this approach very innovative and efficient. We have been using AI for product design for a year, and now AI contributes to 15 percent of our designs," said Huang Zixuan, owner of the fashion accessories store.

In 2024, Yiwu's total import and export value reached 668.93 billion yuan (about 91.78 billion U.S. dollars), up 18.2 percent year on year, hitting a record high, according to customs data. As the goods produced in this renowned wholesale hub continue to gain popularity worldwide, local merchants are full of confidence in their business in the new year.

"Last year, this product was a huge hit for us, with millions sold. We hope to have even more bestsellers this year and sell even more," said Lin Qiuqin, a merchant at the trade market.

"This year, we plan to attend more international trade fairs and major domestic ones. We will also focus on expanding our online sales channels, with the goal of achieving 30 percent growth," said another merchant Yang Weizhen.

China's "film plus" model fuels consumption boom, economic vitality

China's "film plus" model has fueled consumption boom and economic vitality in many cities across the country.

In Fuzhou City of east China's Fujian Province, growing flow of customers are entering shopping malls for films, dining, shopping, and leisure activities.

With movie ticket stubs from the cinema, customers can enjoy exclusive discounts on meals, retail items, and more within the commercial area.

Conversely, consumers can present their shopping receipts from the mall to enjoy discounts on movie tickets.

"Film plus entertainment" and "film plus dining" have already emerged as new trends in consumption, creating a "two-way traffic" between cinemas and other businesses, a mall manager said.

"The 'film-plus' campaign has fueled the film ticket stub economy, linking catering, entertainment, and other sectors to drive customer traffic and create a virtuous cycle of customer traffic and sales," said Qiao Jie, manager of a shopping mall in Fuzhou.

Since the beginning of this year, the China Film Administration and the China Media Group have jointly spearheaded the "China Film Consumption Year" campaign, featuring a wide range of cinema-related promotional events and discount programs across the country.

It elevates what was once a singular movie-watching expense into a "one-stop" consumption experience that integrates film, dining, shopping, leisure and even tourism, fostering new business models and boosting spending.

"In the past, watching a film simply meant stepping into a cinema. Now, the concept has expanded into broader spaces and diverse fields. Thus, 'film-plus' has upgraded the film consumption into a more diverse and novel lifestyle consumption experience," said Chen Tao, assistant dean of the School of Liberal Arts of Renmin University of China.