Foreign businessmen negotiate business at a fair held in Yiwu. [Photo/zgyww.cn]

Yiwu, globally recognized as the world's supermarket, is experiencing an influx of international merchants and tourists. With the May Day holiday around the corner, hotels near the Yiwu Market are at full capacity.

The city has seen a daily average of over 22,000 foreign merchants since March 1, a significant increase from last year, with the share of foreign residents among them growing by more than 50 percent.

In 2023, Yiwu issued over 14,000 residence permits, up 40 percent from the previous year, with work permits constituting 57 percent of the total. The trend is continuing this year, with over 3,000 new permits already granted this year. The Yindu Huayue Hotel alone reported over 300 foreign merchants checking in daily, accounting for 70 percent of their guests.

Restaurants like the Nepalese restaurant on Chengbei Road are no bustling with new international patrons. Bishal, the owner, noted a marked increase in foreign visitors, many of whom he didn’t recognize.

The city's appeal to foreign entrepreneurs is evident at the Yiwu International Trade Service Center, where many come to register new businesses. Yiwu's market supervision bureau reported 291 new foreign-funded enterprises this year, a 22.27-percent increase, making up over 16 percent of Zhejiang's total.

The Yiwu International Trade Market sees about 3,500 foreign merchants daily, signaling a vibrant trade environment and creating endless opportunities.

Source: China Daily

Editor Pan Ning