Strategic collaboration to empower new trade flows for hundreds of thousands of small businesses in the world’s largest wholesale market
Alibaba collaborates with one of the largest wholesale markets. Source: shutterstock.com
Alibaba Group has entered into a strategic collaboration with the municipal government of Yiwu, Zhejiang Province, China to launch an eWTP hub in Yiwu to digitize trade infrastructure and empower new trade flows for the city, which is the world’s largest wholesale market.
This collaboration between Alibaba Group and Yiwu, one of the world’s largest offline “malls,” will make cross-border e-commerce more accessible to small players in global trade, the official announcement says.
The Yiwu eWTP hub will use technology to promote innovation in trade and trade finance, establish a smart logistics hub and create greater inclusivity for businesses in Yiwu.
Yiwu, in central Zhejiang Province, is the world’s largest wholesale market for daily commodities, attracting more than 500,000 buyers from around the world every year. Yiwu exports goods to more than 200 countries and regions, and a majority of the 450,000 merchants in Yiwu are micro-, small- or medium-sized enterprises, a group Alibaba serves through its e-commerce platforms and other digital services.
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