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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]
In October 1990, China Zhengzhou Grain Wholesale Market was established in Zhengzhou, Henan Province. [1] This is the first time that futures trading was introduced in China. Soon China's futures market started to boom. After more than 20 years development, China's commodities futures market has become one of the world's largest. [2]
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 ]
China’s consumer prices slid deeper into deflationary territory last month, ... Pork for sale at a wholesale market in Beijing on January 12, 2023. - Bloomberg/Getty Images/File.
China joined a number of international economic organizations, becoming a member of the World Bank, the International Monetary Fund, the Asian Development Bank, the General Agreement on Tariffs and Trade (GATT), and the Multi-Fiber Agreement. China became an observer of GATT in 1982 and formally applied to participate as a full member in July 1986.
Commodity trading in China has a short but high-growth history. With an increasing product variety and deepening liquidity pools, the mainland's futures market is playing an increasingly important role in serving the national economy .
The economic history of China describes the changes and developments in China's economy from the founding of the People's Republic of China (PRC) in 1949 to the present day. The speed of China's transformation in this period from one of the poorest countries to one of the world's largest economies is unmatched in history.
The Wuhan Huanan Seafood Wholesale Market (Chinese: 武汉华南海鲜批发市场), [1] [2] simply known as the Huanan Seafood Market [3] (Huanan means 'South China'), was a live animal and seafood market in Jianghan District, Wuhan, the capital of Hubei Province, in Central China. The market opened on 19 June 2002. The market became widely ...