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World Business Hub In Asia Essay

1479 words - 6 pages

Study Tour: Futian Market

In the past, the university has arranged for various study trips for the students, but there was one trip that I found very informative and helpful in regards to my studies, which was the trip to Futian market in Yiwu. Personally, I have been there alone or with a friend several times but as huge as the market is, we always seem to get lost. However, that was not the case when we went there with the class.

The day started with a well-managed bus trip that was organized to take us from the university and our first stop was a university in Yiwu where we had a seminar given by an employee of Alibaba. He gave us a deep insight of the beginning of many small ...view middle of the document...

The market was founded in 1982.Within the passed 30 years, the market have been moved and extend constructed for 11 times.Within the passed 30 years, the market bigger and bigger, more advanced and modern.
Now the market business area is cover 4,000,000 square metres.
Before 1998,almost all the goods were sold to all over the China. after 1998,Yiwu market begin to be famous in the world, more and more 
foreign businessmen come to yiwu for purchasing,over 13,000 foreign businessmen from more than 100 countries and regions live in yiwu 
for a long time for purchasing. Every day,more than 1500 containers are loading in yiwu.
The District 1 is divided into five main business areas: subject of the market, manufacturer outlet center, shopping center, warehousing center and catering center. There are more than 9000 booths and over 10500 business entities in total. The 1st floor deals in flowers and toys, the 2nd floor for jewelry, arts & crafts on the 3rd floor, manufacturer outlet center on the 4th floor and sourcing center of foreign trade companies in the east subsidiary building. 

The International Trade City is a commodity trading market integrating modernization, internationalization and informatization. It has realized several transformations since it was put into service: firstly, it has transformed from the traditional trade to modern business mode, which is mainly of commodity exhibition, negotiation, order fulfillment and E-commerce. The International Trade City is honored as “Expo that Never Drop the curtain” by foreign customers; secondly, it has realized the transformation that foreign trade exceeds domestic trade, the daily customers reach 40,000 and 5,000 of which are foreign customers, the export rate of commodities is above 60%, more than 95% of the booths accept foreign trade business and the commodities are exported to over 200 countries and regions; thirdly, it has realized the intellectualization of hardware facilities in the market. The whole market has easy accessibility of crowd passage, logistics service and information. It is equipped with 37 elevators and escalators, the automobiles have access from floor 2-4 and over 13,000 broadband interfaces in the market enable every booth to realize online business and consult information on the net.
The International Trade City Ⅰ is an appointed shopping & tourism spot by Zhejiang Tourist Bureau and is titled the first “Five-star Market” of Zhejiang province by Provincial Industrial & Commercial Bureau. In 2005, the market passed the assessment of national AAAA Tourist Attraction.

In District 2, the first floor deals in suitcases & bags, umbrellas and raincoat; the second floor deals in hardware tools & fittings, electrical products, locks and vehicles; the third floor deals in kitchenware & sanitary ware, small home appliances, telecom facilities, electronic instruments & equipments, watches & clocks etc; the fourth floor is manufacturer outlet center and other high-class business...

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