YIWU, China, Oct. 25, 2018 /PRNewswire/ -- The 24th China Yiwu International Commodities (Standards) Fair ("Yiwu Fair") in Yiwu, Zhejiang province, China recently concluded. Yiwu Fair was founded in 1995 as an international commodities exhibition approved by the State Council of China. Now in its 23rd year, the fair has become the biggest of its kind in China.
The fair is a leading trade platform that helps companies expand globally
This year's fair has further demonstrated its capabilities in helping China grow, transform and upgrade its foreign trade, as well as support companies of all sizes in expanding their presence in international markets by serving as "the platform for the masses".
According to Huanqiu.com, the official media partner of Yiwu Fair, over 500,000 professional buyers from outside China purchase commodities in Yiwu annually, over 13,000 of which come from 100 countries and regions and have a permanent presence in the city. Yiwu is now exporting its commodities to over 210 countries and regions worldwide. More than 65% of the city's revenues come from foreign trade.
The 24th Yiwu Fair focused its pre-event efforts on inviting buyers from countries along the One Belt, One Road as well as other key procurement source countries. For the first time, the fair partnered with several overseas business associations and professional organizations. In addition, professional procurement groups from seven countries, including Chile, Ghana, Sri Lanka, Mexico, Thailand and India, were invited to attend the event.
2,605 overseas professional buyers had pre-registered for the event, an increase of 39% over 2017.
The fair creates a win-win opportunity for buyers and exhibitors by promoting direct sourcing and eliminating the need for intermediate traders
The organizer of the fair was successful in creating a win-win opportunity for buyers and exhibitors by promoting direct sourcing and eliminating the need for intermediate traders
The matching session, the "Create a beautiful life with commodities"-themed Procurement Summit guided retail buyers through the entire 2018 sourcing process.
During this year's event, the Procurement Summit directly connected over 100 exhibitors with buyers, garnering high praise and support from retailers for helping to streamline the sourcing process.