Editing Yiwu (section)

== Economy ==
[[File:Tourist goods in Yiwu International Trade Mart.jpg|thumb|left|Tourist goods for wholesale around the world in Yiwu International Trade Mart]]

Yiwu is a global trading hub for small commodities. The [[Yiwu International Trade City]], operated by Zhejiang China Commodities City Group Co., Ltd. (SHA:600415), is the world’s largest wholesale market. It is organized into several districts, each dedicated to categories like jewelry, toys, home goods, and textiles.<ref>{{cite web|url=http://en.onccc.com|title=Yiwu China Commodity Market|publisher=En.onccc.com|access-date=2012-11-09}}</ref> According to [[The Economist]], more than 60% of Christmas trinkets sold globally in 2013 originated from Yiwu.<ref>{{cite news|title=Christmas celebrations: Oh what fun|url=https://www.economist.com/news/china/21636096-christmas-chinese-characteristics-oh-what-fun|access-date=2014-12-15|newspaper=The Economist|date=13 Dec 2014}}</ref>

The market's global prominence has attracted a large number of international traders, especially from the Middle East and Africa. Since 2001, thousands of Arab and African businesspeople have settled in Yiwu, opening restaurants, shops, and cultural centers.

Yiwu also supports a growing e-commerce sector. The local government and market operator launched [[Yiwugo.com]], an online wholesale platform that complements the physical marketplace.<ref name=":Liu">{{Cite book |last=Liu |first=Lizhi |title=From Click to Boom: The Political Economy of E-Commerce in China |publisher=[[Princeton University Press]] |year=2024 |isbn=9780691254104 |pages=43}}</ref>

Since 2023, Yiwu has strengthened its financial infrastructure to promote the international use of the Chinese yuan. [[Zhejiang Chouzhou Commercial Bank]] established the China-Africa Cross-Border RMB Settlement Center, while the city launched the Yiwu Pay digital payment platform, both significantly facilitating cross-border RMB transactions with local currencies.<ref>{{cite web|title=义乌支付上线一年：跨境人民币结算突破850亿元|url=https://www.thepaper.cn/newsDetail_forward_28895311|website=The Paper|date=15 February 2024|access-date=26 May 2025}}</ref><ref>{{cite web|title=义乌金融改革再提速，打造跨境人民币生态圈|url=https://www.jrj.com.cn/2023/05/18203038356472.shtml|website=金融界|date=18 May 2023|access-date=26 May 2025}}</ref>