An international mediator helps with foreign-related disputes. [Photo/Jinhua Federation of Trade Unions]

This year marks the 20th anniversary of the promotion of the "Yiwu Development Experience." Despite its inland location, Yiwu has built a global trade network, attracting more than 10,000 foreign businesses and becoming home to 38,000 resident foreign merchants.

Yiwu is known for its wide variety of goods, but the city's true appeal goes far beyond that.

Senegalese businessman Sourakhata Tirera credits Yiwu with his success. Since 2003, he has regularly traveled to Yiwu, first to purchase hardware and later to establish a wholly foreign-owned trading company in 2012. His business now ships hundreds of containers each month, providing one-stop procurement services for clients across Africa.

Yiwu's appeal lies not only in its abundance of goods but also in its pioneering spirit. The city anticipates market needs and innovates even when no clear path exists.

In 2011, Yiwu introduced a dual-track system allowing the same foreign investor‌ to retain representative office status for visa and residence facilitation while registering a foreign-funded business entity separately‌. Nepali businessman Khadka Raj Kumar benefited from this policy, establishing a trade company and settling in Yiwu.

In 2013, Yiwu established the first mediation committee for foreign-related disputes in China, inviting foreign businessmen to serve as international mediators. Kumar has served as a foreign mediator since 2017 and has mediated over 150 foreign-related disputes. "In Yiwu, we are not outsiders but fellow villagers," he said.

Yiwu's sixth-generation market embraces digital trade, transforming "Made in Yiwu" into "Innovated in Yiwu". Cross-border payment upgrades, like "Yi Payment," streamline global transactions.

As a global trade hub, the city continues to turn the impossible into reality, shining as the world's supermarket.