Yiwu's sixth-generation market opens for digital trade

The sixth-generation market in Yiwu, Zhejiang province, named the Global Digital Trade Center, officially commenced operations on Tuesday, marking a new chapter in the city's transformation from a traditional trade model to a digitally driven global trade ecosystem.

The massive center features advanced digital infrastructure, such as 10-gigabit optical networks and cross-border data channels. It is divided into five sections covering a market, office buildings, commercial blocks, apartments, and a digital trade port.

More than 3,700 merchants have already settled in the market section, covering fashion jewelry, creative toys, intelligent equipment, and five other emerging industries. Among these merchants, second-generation business owners, young entrepreneurs, and new-generation traders account for 52 percent, while 57 percent operate their own brands or manage IPs.

According to Zhu Xingping, deputy general manager of the center, this new generation achieves a full digital and intelligent upgrade. The Chinagoods platform offers one-stop services for customs, taxation, logistics, and financing, while Yiwu Pay enables convenient cross-border payments. The "World Yiwu" trade model introduces 13 AI applications to help small businesses cut costs and boost efficiency, including design, visual creation, and video translation tools.