YIWU, China, Sept. 24, 2014 / PRNewswire — 20 years of development lead the Yiwu Fair to mature. Over the past 20 years, the exhibition size, industry classification, exhibition structures and highlights underwent enormous and profound changes. One of the most important changes is the higher degree of internationalization. Yiwu Fair draws global attention with its unique characteristics.
Foreign participants increasing yearly
The growing number of foreign faces represent the degree of internationalization. In the past, the occasional foreign face attracted attention; nowadays, a variety of foreign purchasers gather together, boosting the trade turnover of Yiwu Fair. Professional buyers of the 19th Yiwu Fair hit a new high, attracting a total of 196,957 customers from 203 countries and regions, an increase of 1.76%, while the number of foreign buyers is 22,201, an increase of 6.3%. The top five countries and regions of foreign businessmen are: South Korea, India, Taiwan, Malaysia and the United States.
The ratio of European merchants is also rising. More European and American businessmen participate in Yiwu Fair, shifting Yiwu Fair from low-end to high-end markets.
For large retailers like Metro and Tesco, Yiwu Fair has become an important platform for cross-border purchases. These large multinational retailers at Yiwu Fair illustrate that Yiwu Fair has taken a worthy step to international and professional exhibition.
The world’s procurement feast
The 19th Yiwu Fair has opened its doors to international trade, and has more than 2,500 companies and 4,200 booths, with eight major categories: hardware, electronic & electrical appliance, jewelry accessories, daily necessities, handicrafts, culture, sports & outdoor leisure products, and socks&underwear. The show achieved turnover of RMB16.615 billion, up by 1.68% — among which, the foreign trade turnover of USD1.696 billion accounted for 62.1% of turnover, an increase of 7.16%.
Yiwu Fair has excellent service industries such as dining, hotels, transportation, entertainment, and advertising that meet customers’ needs at different levels. It is particularly worth mentioning that the Ministry of Foreign Affairs has opened a “green channel” for Yiwu Fair, i.e., an Yiwu Fair invitation, whereby foreign investors can directly apply for a visa at the Chinese Embassy or Consulate General of China.