Xinhua Silk Road: "World's supermarket" Yiwu opens smart industrial park in S. China's Guigang

BEIJING, June 1, 2022 /PRNewswire/ — A smart new commercial industrial park featuring Yiwu small commodities was opened on May 28 in Guigang City, south China’s Guangxi Zhuang Autonomous Region. Orders worth 210 million yuan (about 31.48 million U.S. dollars) in total was placed on the opening day.

With a total investment of 11 billion yuan, the industrial park covers an area of 2,388 mu (159.2 hectares) and a planned construction area of 3 million square meters, according to Yang Yang, deputy general manager of Zhejiang China Commodities City Group Co., Ltd. The park is expected to offer 40,000 direct job positions, with its average annual transaction volume predicted at about 13 billion yuan, and annual profit and tax about 400 million yuan, Yang noted.

Known as the “World’s Supermarket,” Yiwu City of east China’s Zhejiang Province has introduced its sixth-generation model of smart commercial industrial city to the new project in Guigang. Through technological innovations including global trade big data cloud information, 5G and AI, the park forms a global trade ecosystem featured with an “eight-in-one” industrial chain operation model integrating trade, professional market, production and processing, warehousing and logistics, live-streaming, etc.

Connecting with members of the Association of Southeast Asian Nations (ASEAN) by both land and sea, Guangxi

is eyeing unprecedented development opportunities in terms of cross-border logistics. The launch of the park will infuse the city of Guigang with a strong impetus to grow into a “capital of small commodities” in south China, said Su Jian, deputy director of the Guangxi regional commerce department, noting that the industrial park will strive to serve the broadened ASEAN market under the Regional Comprehensive Economic Partnership (RCEP).

Data shows that the sales of small commodities to ASEAN countries has increased significantly after the RCEP came into effect. It is expected that the Guigang-based industrial park will be inspired by Yiwu’s development experience to further improve its trade and service capabilities, and promote more products with Guigang feature to the world, according to Yan Jiuqiu, director of Guigang Municipal People’s Congress Standing Committee.

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SOURCE Xinhua Silk Road


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