“Backpack Journalist” Team Explores Yiwu: Understanding China’s Global Trade Hub

 

By Wu Yueran, Xu Diman, Wang Yingying, Wangdai

Translated by Guo Yishun

On the afternoon of December 5, 2025, the “Backpack Journalist” team from Shanghai International Studies University, composed of 15 journalism students and faculty, conducted a field research program in Yiwu, Zhejiang Province. The study aimed to investigate the city’s domestic and international trade ecosystem and uncover the factors behind its global success.

The team, guided by Instructor Liu Jia, visited the Huangyuan Clothing Market. Here, students examined the Yiwu Index, a benchmark for small commodity trade known as China’s “Dow Jones for Small Goods”, which reflects pricing trends, market sentiment, and trade patterns based on data from thousands of merchants and tens of thousands of products. For exporters, the index informs pricing strategies, while global buyers rely on it to gauge market trends. In 2025 (January–September), Yiwu’s apparel and accessory exports reached RMB 60.69 billion, up 24.7% year-on-year, reflecting the index’s role in stabilizing trade rhythms and predicting demand fluctuations.

The team also conducted street interviews with foreign businesspeople in areas with high expatriate presence, such as Binwang Road and Chouzhou North Road. They learned that Yiwu’s inclusivity and diversity make it an attractive hub for global traders. Foreign residents cited the city’s equitable trade rules, diverse culinary offerings, and opportunities to connect with compatriots as key aspects of Yiwu’s appeal.

Throughout the visit, the team received guidance and support from Wang Xinbo, Secretary General of the China Yiwu Mall Group Chamber of Commerce, and other chamber officials, who facilitated interviews and market observations. Participants noted the city’s unique combination of commercial efficiency and human warmth, reflecting both the hard power of trade and the moral integrity and inclusiveness that define Yiwu’s business culture.

The research highlighted how the city’s success stems not only from its robust trade infrastructure but also from a culture of openness and cooperation that enables it to connect seamlessly with the world.