Yiwu sees robust trade with BRICS
Updated: 2012-02-20 15:35
(Xinhua)
|
|||||||||||
HANGZHOU - Yiwu, the largest small commodity market in China and one which supplies half of the world's Christmas products, saw strong growth in trade with the China's fellow BRICS countries last year, according to local customs authorities.
Exports to Brazil, Russia, India and South Africa reached $1.03 billion in 2011, up 52 percent from the previous year, said a statement issued Monday by the customs department in Yiwu, a city in east China's Zhejiang province.
Exports to Russia even increased eight fold year-on-year, a trend which authorities credited to Russia's WTO entry last year.
Customs authorities said they believe that the robust growth has, to some extent, offset the negativity caused by the eurozone debt crisis and instabilities in the Middle East.
The city's total export value stood at $9.87 billion last year, up 15 percent from a year ago, according to the statement.
Trade reform with polices related to finance, land, taxes and customs, was introduced in Yiwu in 2011, and experts believe the scheme has also contributed to Yiwu's business success.
BRICS refers to leading emerging economies Brazil, Russia, India, China and South Africa.
Related Stories
China's Yiwu goes global 2011-11-30 15:22
Retailers swarm Yiwu for Spring Festival 2012-01-12 16:39
China's Yiwu sees brisker business in '11 2012-01-11 10:51
Jingle bells ring in China's business sector 2011-12-22 17:39
- More US films set for China
- Experts say Apple has trademark weakness
- Exports to rise in emerging markets
- Gaming set for fast growth in new play areas
- Apple's iPhone loses China market share
- Li stresses innovation, higher living standards
- Xi reiterates support for Europe
- Radiation rumors electrify Cruze owners