China's small commodity hub of Yiwu opened its first multi-brand store in Kenya's capital Nairobi last month, providing a wide range of high-quality goods to African customers, as merchants from the east China city seek to find a new way to expand overseas business.
Yiwu in Zhejiang Province is known as the "world's supermarket" for its enormous exports of small commodities.
Last month, the Kenyan capital city Nairobi witnessed the opening of Yiwu Selection, with the launch ceremony featuring joyful traditional Chinese and African performance.
The store gathers over 20 high-quality brands from Yiwu and provides a wide variety of goods from daily necessities to fashion accessories at attractive prices.
"The price is fair. The price is good. I love it," said a local customer.
One distinct characteristic that sets Yiwu Selection apart from other stores selling imported goods in Nairobi is that it features offerings that are in high demand among locals.
The purchasing team of the local chain stores recommend the multi-brand store on which goods they should put onto shelves so that they will meet the taste of African customers.
Susan, a Kenyan purchaser who runs her own online shop said she found the daily necessities in Yiwu Selection are exactly what local customers need and the prices are attractive.
"It gives another image of China, because we know Yiwu as a bank of small things, so, the Yiwu Selection changes the whole image of what can come from China. So, Kenyans can now know anything, which are of a standard, you can get in China," she said.
He Lihong, chairman at the Zhejiang Yiwu Brand Development Promotion Association, said brands from the east China city hope to bring more high-quality goods into African market.
"Many people think goods sold to Africa are cheap and low-end, but actually, that is not true. African customers want higher-quality goods, so, we decide to bring our brands here. I think the operation of stores like Yiwu Selection in association can help our brands grow faster in local market," said He.
A Kenyan investment official said the new business model helps offer high-quality Chinese goods to African customers at an affordable price.
"The company has been able to settle and to set up here in Kenya. Kenyans will be able to get good-quality products that are coming in from China at an affordable price," said Olivia Rachier, director of corporate services at Kenya Investment Authority.
China's small commodity hub opens first multi-brand store in Nairobi
China's top housing authority has pledged to stabilize the real-estate market, rolling out a package of measures centered on city-specific policies to reduce inventories and optimize housing supply.
At a national conference held in Beijing on Tuesday, the Ministry of Housing and Urban-Rural Development announced that stabilizing the real estate market will be a central priority next year.
In 2026, local governments across China are expected to focus on city-specific policies aimed at controlling new housing supply, reducing existing inventory, and optimizing housing availability. Efforts will be integrated with urban renewal projects and the redevelopment of urban villages to revitalize and better utilize existing land resources. Authorities will also promote the acquisition of unsold commercial housing stock for conversion into affordable housing, resettlement units, dormitories, and apartments for skilled professionals.
The supply of government-subsidized housing will be optimized and implemented with greater precision, while a national housing quality improvement initiative will advance the orderly construction of "good homes." The role of the real estate project "whitelist" system will be further expanded to support the reasonable financing needs of property developers.
Municipal governments are encouraged to make full use of their autonomy in real estate regulation, adjusting and refining housing policies as appropriate to support both rigid and improvement-oriented housing needs, thereby fostering stable operation across local property markets.
China will also accelerate the formation of a new development model for the real estate sector. This includes building a foundational institutional framework, solidifying the corporate-based project development model, implementing a lead bank system for real estate financing, and promoting the sale of completed homes, effectively reducing the risk of delivery failures. For areas that continue with pre-sale practices, stricter oversight will be applied to the management of pre-sale funds to protect buyers' legal rights.
At the same time, reforms to the housing provident fund system will be deepened. The government will launch a campaign to improve the quality of property services and explore a new model of community governance led by grassroots Party organizations in collaboration with neighborhood committees, homeowners' associations, and property management companies. Moreover, the "property services plus lifestyle services" model will be explored, expanding property-related services into households.
China pledges to stabilize property market
