Yiwu: A city built on markets

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Source: CCTV.com | 12-08-2008 13:56

Over the past 3 decades, the former small farming village in eastern Zhejiang province has transformed into the world's largest wholesale center for consumer goods.

Yiwu's development is seen as a prime example of China's  reform and opening up policy.

The city's development is seen as a prime example of China's reform and opening up policy. In today's "China 30 Years" special series, Liu Ying tells us some of the success stories behind the economic miracle of Yiwu.

Plush toys, purses, hair driers, necklaces.

Whatever you might need daily life, you can probably find it here at the Yiwu International Trade City.

Its 62,000 shops sell some 1.7 million commodities to more than 200 countries and regions.

55-year-old He Haimei is part of the dramatic changes that Yiwu has embraced over the past 30 years. She was one of the city's first peddlers in the early 1980s. She started out selling photos of movie stars on the street. Today her scarf shop exports to more than 30 countries and regions, earning over ten million yuan in sales a year.

He Haimei considers herself a direct beneficiary of the reform and opening up policy that China adopted in 1978. At that time, she worked at a state-owned food factory, earning just over 200 yuan a year.

He Haimei, president of Yiwu Hanmei Clothing & Accessories Co., said, "Yiwu's prosperity today should be first credited to the reform and opening up policy. Also, Yiwu officials took a quite liberal view towards self-employed business. And people in Yiwu had the courage to be one of the earliest in the country to engage in commerce. They are diligent and hard-working. And they have created the successful model of small profits but big, fast turnover."