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A new exhibition center opens for Yiwu Fair

By Chen Qide (chinadaily.com.cn)
Updated: 2008-10-06 15:02

Yiwu inZhejiangProvincewill put its third-phase project of its exhibition center into operation before its international commodities fair opens on October 21.

More than 2,800 enterprises, about 300 more than those of last year, are expected to be present at this year's five-day fair, which will have an additional 1.7 million square meters of exhibition area.

Yiwu Deputy Party Secretary Chen Xiuxian said over 90 per cent of the exhibitors will be manufacturing companies, "favourable to the direct contacts of traders with factories."

The new exhibition center, which is built with an investment of 5 billion yuan, will offer new space for 20,000 booths.

Last year's fair had 2,560 enterprise exhibitors and over 110,000 professional purchasers came from 172 countries and regions. Its transaction volume amounted to $1.48 billion.

"This year's fair will have more exhibitors and purchasers to reinforce its position at the international market," said Chen.

Yiwu reached sales of 35 billion yuan at the commodities city and exported goods valued at $20 billion by sending 500,000 20-foot containers last year, said Wang Guocheng, vice director general of Yiwu Municipal Exhibition Management Office.

Foreign businessmen in Yiwu increase by about 10 per cent every year and 52.7 per cent of foreign buyers are import traders, Wang said.

As the third phase project put into operation, this year's fair will have an exhibition area of 4.3 million square meters to contain 80,000 stands, he said.