Yiwu Market History

Yiwu is the hilly area of the indigenous inhabitants. Poverty of the land so that farmers have no choice but to trade for life. As early as the sixteenth century, the transaction was opened in Yiwu.
It was in the 1600s that Yiwu peasants started trading in chicken feathers, as they were used as a natural crop fertilizer. Using these feathers, they also made some other household articles that were attractive on the market and even started exportation: during periods in which farming did not require substantial work, they traveled across villages, selling sewing needles, threads, candies and other small articles. These men were also named the equivalent of "Feather-for-Candy-Men" in some rural areas. Soon, they grew in number and many wholesale markets came into existence to cater them. It was only until 1949 that Planned Economy was set up there.

Planned Economy VS Roaster Feather for Candy

Earlier, the trade system was considered as capitalism by the government of the People's Republic of China and hence officially suppressed. However, in practice there was not much change in the mountainous Yiwu. People had no option but to rely on business to survive and the commerce was carried on secretly. If a trader were caught, his belongings were confiscated by the authorities.
Former Yiwu Mayor Xie Gaohua in the city conducted a survey and found that secret wholesalers in fact better than the farmer living conditions. So decided to give up the ground (not formal), in favor of improving the living standards of residents. In the end, with the beginning of China's economic reform, the three free markets  came into existence.

The First Free-Marketplace in China's History

In 1982, the local government put cement board on Huqingmen Street near a stinking ditch, built about 700 stalls. This is the birth of Yiwu market, the first early complex. In the process, Yiwu wholesale market has undergone many changes. Yiwu International Trade Center currently has more than 70,000 booths, the profit of billions of dollars. Is considered the world's most popular wholesale market.

Yiwu International Trade Mart
The International Trade Mart (Futian market) is the main one and the biggest. It currently covers an area of 4 million square meters, with 62,000 booths inside. 100,000 suppliers exhibit 400,000 kinds of products almost every day from 9 am to 5 pm (except during the holidays of Chinese Spring Festival). The products come from around 40 industries and include 2,000 different categories of goods. 65% of these products are exported to over 215 countries and regions. Futian market is more like a permanent fair, rather than a traditional wholesale market. It has developed into an information, innovation, exhibition and distribution center for consumer goods.