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Zhejiang - a major player in world commodity market

Mar '07
Zhejiang is a large province as well as a strong market in China. The flows of large number of commodities and price fluctuations within the province have critical influence in the world.

Today, in an increasingly globalized world economy, Zhejiang is to bring its own advantages into full play.

'China Small Commodity City' in Yiwu, Zhejiang is the world's largest small commodity market. Among more than 500,000 types of UN-designated commodities in the world, Yiwu has over 400,000 varieties, thus attracting businessmen from around the world.

In October 2006, ' Yihu-China Small Commodity Index' jointly created by the Ministry of Commerce and the city government leaped out, which has been regularly published to the world on Chinese Ministry of Commerce website, China Central Television and Hong Kong-based Phoenix Satellite TV.

At the release ceremony, assistant Minister of Chinese Commerce Huang Hai said, the release of ' Yiwu-China Small Commodity Index' would build up China's speak right of small commodity price in the world, and establish price direction for small commodities.

China's first textile index will also be born in Shaoxing. China (Shaoxing) International Textile Fair 2007 to be held in October is expected to release textile index of China Textile City to the public.

Fibre2fashion, News Desk - China

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