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Yiwu sees e-commerce boom in Q1

The latest data from Yiwu authorities showed that the e-commerce transaction volume in the county-level city in Zhejiang province reached 71.9 billion yuan ($11.1 billion) in the first quarter of this year, up 35.62 percent from that in 2019 and 32.52 percent from that in 2020.

Cross-border e-commerce retailers contributed 19.665 billion yuan in exports in Q1, up 19.47 percent from that in 2019 and 21.05 percent from that in 2020.

These statistical figures reflect Yiwu’s increasingly significant role as China’s marketing center for cross-border e-commerce activities.

Located in the city’s Land Port E-Commerce Town, Yiwu Yanqueens E-Commerce Co is rushing to receive and fulfill a massive number of orders, according to local media reports. You Jun, chief executive of the company, told the reporter that although Europe and North America have been hit hard by a new wave of the COVID-19 pandemic this year, Southeast Asia is providing the company with a steadily growing number of orders on e-commerce platforms like Shopee and Lazada.

Yi Qian, general manager of Lazada’s cross-border businesses, said, “Yiwu is a cross-border e-commerce hub that boasts unique strength in products, logistics, and policies. The growth rates for the number of Yiwu-based sellers and their transaction volume on Lazada are both above average. Hence, we are quite optimistic about the Yiwu market and plan to invest more in the city’s related industries.”

(Sources From: Chinadaily)

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