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It was the largest wholesale food market in Asia, [11] with as of 2020 more than 10,000 workers [1] including 1,500 managers and over 4,000 tenants. [12] According to the official site in 2020, more than 20,000 tons of fruit, 18,000 tons of vegetables, and 1,500 tons of seafood are sold at the market each day. [ 13 ]
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Location of China. Since the introduction of economic reforms in 1978, the Chinese economy has become one of the world's fastest-growing major economies. As of 2016, it was the world's second-largest economy by nominal GDP and largest by purchasing power parity (PPP).
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Yiwu International Trade City (Chinese: 义乌国际商贸城), also known as the Yiwu Market, is the primary wholesale market complex in Yiwu, Zhejiang, China. According to the World Bank, it is the world's largest small commodities market. [3] [4] In 2022, the market sold around US$70 billion of goods. [5]
China accounted for 42.4% of worldwide retail e-commerce in that year, the most of any country. [4]: 110 In 2019, online retail sales were 21% of China's total retail sales. [1]: 4 As of late 2022, approximately 850 million Chinese individuals shop online and sectors related to e-commerce employ 69 million people in the country.