Illustration: Liu Xidan/GT

Total trade of Yiwu, the world's largest small-commodity wholesale market, crossed the 800 billion yuan ($115 billion) mark for the first time last year, up 25.1 percent from a year earlier, despite mounting uncertainty, from uneven demand to ongoing supply-chain adjustments. That the city still recorded double-digit growth warrants attention, though not as evidence of exceptionalism. Rather, it invites a closer look at how a trade-oriented city has been navigating a more fragmented and risk-aware global trading environment, and what this suggests about the evolving mechanics of cross-border commerce.

According to a report released by Yiwu Fabu on Tuesday, citing data from Yiwu customs, the city's total trade reached 836.5 billion yuan last year, a year-on-year increase of 25.1 percent. Exports rose by 24.1 percent, while imports grew more rapidly, increasing by 32.3 percent.

Behind the double-digit expansion are some elements that merit closer attention. Taken together, they point to three broader trends that are increasingly influencing trade growth under conditions of heightened global uncertainty.

The first, and perhaps most consequential, element is innovation. In 2025, Yiwu adopted innovative trade measures. Yiwu has effectively combined its long-standing strengths in market-based trade with cross-border e-commerce, digital systems, artificial intelligence-driven product selection, and an expanding overseas warehouse network, creating a more resilient and efficient trade ecosystem.

On October 14, 2025, Yiwu's sixth-generation marketplace, the Global Digital Trade Center, officially commenced full operations. More than 3,700 newly registered merchants were connected to the Chinagoods platform, enabling one-stop access to integrated trade services covering customs clearance, foreign exchange settlement, taxation, logistics, warehousing, and trade finance. Trade digitalization has fostered the convergence of "livestreaming + cross-border e-commerce," giving rise to a range of new business models. 

The second key factor driving Yiwu's trade growth is its highly adaptable and efficient supply chain, intricately linked to China's broader manufacturing ecosystem. In Yiwu, even basic items such as pens or hair clips can be sourced from various suppliers, giving buyers the flexibility to compare prices, assess quality, and negotiate terms. This dense supplier network, combined with a robust logistics infrastructure, forms the backbone of Yiwu's export strength, enabling the city to quickly adapt to shifting demand patterns.

In 2025, ongoing technological advancements in Chinese manufacturing played a role in driving Yiwu's small commodity exports. Notably, products such as 3D-printed toys gained traction in international markets. These items, marked by innovative designs and efficient production methods, exemplify how technological progress is enhancing the competitiveness of even traditional sectors within China's manufacturing base.

Yiwu's performance is underpinned by continuous improvements in design, technology, and production capabilities, which provide the foundation for the city's export activity.

The third, though by no means the final, factor worth noting is the rapid growth of imports into Yiwu. Traditionally known for its exports, the city has responded to rising domestic demand for high-quality overseas products, and it has accelerated the development of import platforms and channels such as the Yiwu Comprehensive Bonded Zone and return trips of China-Europe freight trains, leveraging its market strengths to actively expand imports.

For example, according to Yiwu Fabu, on December 13 a truck carrying Canadian health products successfully completed customs clearance, marking the successful pilot of an optimized filing reform for imported health products in Yiwu and opening a new channel for the import of high-quality health products.

In 2025, Yiwu's measures to expand imports also included the rollout of the "Yiwu-Xinjiang-Europe + bonded logistics" model at the Yiwu Bonded Logistics Center, positioning the logistics center as an important distribution hub for return cargo on the route of the China-Europe Railway Express (Yiwu-Xinjiang-Europe).

Yiwu provides a window into the factors that can sustain trade activity amid heightened global uncertainty. Its performance suggests that growth is shaped not only by scale, but by the capacity to innovate, adapt supply chains, and respond to evolving market demand.

The city's experience also indicates where opportunities for trade expansion may lie. Rather than being driven by political slogans or protectionist measures, growth appears to stem from practical adjustments - such as technological adoption and flexible logistics - that allow commerce to remain active even in volatile conditions. The expansion of Yiwu's imports, for instance, demonstrates how trade growth can generate mutually beneficial opportunities for both international suppliers and domestic consumers.

The author is a reporter with the Global Times. bizopinion@globaltimes.com.cn