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Since the Yiwu Import Commodities Fair 2015 had been held on June 4th-7th, now there are more than 764 foreign companies with 1402 multinational brands newly stationed in Yiwu Commodity Import Exhibition Hall.
Yiwu, a city located at the southeast coast of China is known for its small commodity trade. Selling every product with low profits for big quantity is the key to its success. Businessmen in Yiwu try all means to meet their customers wants and needs.
Ye is the owner of a wholesale shop selling buttons in Yiwu. She sells each set of her buttons for 0.05 yuan (0.008 US dollar), while the net profit per set is only 0.003 yuan (0.0005 US dollar). She said that she can sell one million buttons every day, and earn a net profit of 2000 yuan (315 US dollars) at peak time.
Analysts describe these businessmen selling petty commodities with small profits as “ant businessman”. They are beating big companies with advantages in sales volume and lower costs. With this selling model, small business fosters lots of millionaires and billionaires in this city.
Yiwu survives itself in a world engulfed by a growing economic crisis for selling products which closely related to people's daily life. Businessmen in Yiwu are masters in the their own way to do business, which is to focus on those small commodities. They believe that these small commodities have great market potential.
The head of Home Syosset, a flagship company selling American style houseware spoke highly of China’s market. “We consider Yiwu as the best place to access to China’s market,” he said.
Also, Yiwu's local government helps the city's economy to go global by giving preferential policies and incentives.
As an example, corporations importing consumer goods in Yiwu can get a 0.06 yuan (0.0095 US dollar) incentive from the government for every one US dollar they import. Under this attractive policy, consumer goods importers can get 60,000 yuan (9465.45 US dollars) as a reward, once their total import reaches 1 million US dollars.
To encourage imports, Yiwu's local government has introduced a series of supportive policies which are pioneering nationwide. Together with Yiwu’s significant position and trade advantages, Yiwu is becoming a competitive international center for import trade.
"Cities like Shanghai, Guangzhou and Shenzhen, which are advanced in import and export trade, have grand ports, long history, high reputations and policy advantages," said Birong Wang, the Secretary of Yiwu’s Municipal Bureau of Commerce. "They enjoy a well-established import and export trade environment and ecosystem."
He said: "But for Yiwu, our unique advantage is that we keep concentrating on small commodities for more than three decades. Yiwu sold products 'made in china' before, but it is now selling global manufacturing."
