If you’re cheering for the World Cup with pom-poms, enjoying vacation in your summer outfit from Amazon, or simply shopping from any online merchants, you might find these products from the same origin - Yiwu, Zhejiang, China.
Yiwu operator Zhejiang China Commodities City has applied for an initial public offering on the Hong Kong Stock Exchange to support overseas expansion, marking the beginning of dual listing in Hong Kong and mainland China for the online merchant.
The company stated that its Hong Kong listing is a crucial step in its globalization strategy, aiming to leverage international capital to accelerate its transformation into a leading global integrated international trade service provider.
The commodity marketplace business has evolved locally in Yiwu since 1982, and officially registered as a company in 1993. It was listed on the Shanghai Stock Exchange in 2002.
Challenged by competition from online platforms such as Temu (Pinduoduo's cross-border e-commerce platform) and Amazon, as well as fluctuating tariff policies, the company aims to leverage integrated services ecosystem and compliance-oriented operating capabilities to consolidate the leading position.
Forming together a vast international trade infrastructure in Yiwu are tens of thousands of businesses, more than 2 million products, and a trade network connecting to 233 countries and regions around the world.
By 2025, its goods exports is distributed across 249 countries and regions, with no single destination accounting for more than 15 percent of total exports, reducing the impact of single market fluctuations in Yiwu’s business.
President Xi Jinping has formerly praised the company for successfully developing county-level economies with reference to local conditions.
As of 2025, Yiwu had a total leasable area of 1.6 million square meters, accommodating 80,000 merchants and offering 2.1 million individual products across 26 major categories.
The company’s Chinagoods platform, launched in 2020, has registered 5.6 million buyers and connected 50,000 physical shops, with over 17.02 million listed products, according to its annual report in 2025.
According to the CIC, the company is the world’s largest international trade comprehensive services platform in terms of GMV in 2025, as well as the world’s largest small commodities wholesale marketplace in terms of number of merchants in 2025.
The company reported a net profit of 4.2 billion yuan (HK$4.86 billion) for 2025, up 36.8 percent from 2024, and revenue rose 26.6 per cent to 19.9 billion yuan.
The leading trade services provider expects a total international trade value at a compound annual growth rate of more than 6 percent from 2025 to 2030.
