Yiwu’s market bounces back after three difficult years

Orders from all over the world     1     (flood) into Yiwu factories since earlier this month, a snapshot of global trade in the post-pandemic era     2     indicates a strong recovery for foreign trade in Zhejiang province in early 2023.

Statistics show that on Feb 2, 75,000 merchants     3     (participate) in the opening ceremony at Yiwu International Trade City — the world’s largest     4     (distribute) center for small commodities — placing orders on-site after almost three years of being unable to do so     5     person since the COVID-19 epidemic began.

Lu Qingrong, manager of the Jingrong Toy Company, said that orders have already been scheduled for May and June,     6     that this year’s sales are expected to be 30 percent     7     (high) than the previous two years.

For the past three years, Yiwu’s manufacturing companies     8     (devote) more energy to innovation and quality as they have upgraded, in a bid to underpin steady and accelerated growth.

Lu added that Jingrong will focus on strengthening innovation and research     9     (satisfy) increasing demands and plans to launch at least 10 new products every week.

In addition, the company is currently adding more production lines, which will raise     10     (efficient) and is expected to increase production by 50 percent.

This year marks the 15th anniversary of China’s Double 11 online shopping festival.

The first Double 11 event     1     (initiate) by Alibaba on November 11 in 2009 and has become the largest e-commerce shopping gala in the world today. Every year people usually look forward to this online shopping festival at     2     many merchants will do promotional activities. The     3     (innovation) marketing model has profoundly transformed China’s     4     (consume) market and injected enormous power into the country’s economic development.

This year’s Double 11 shopping festival witnessed     5     increase in consumers’ demand and enthusiasm     6     quality products.

According to Tmall, a leading online retail platform affiliated with Alibaba, 155 brands achieved sales of over 100 million yuan ($13.72 million) as soon as the event     7     (official) started at 8 pm on October 31. 71,900 brands broke the first-day     8     (sale) record of last year in the first hour     9     business volume of 29 livestreammg rooms hit 100 million yuan at the start.

Over the past 15 years, the Double 11 festival has become the most important platform     10     (satisfy) the needs of consumers as well as promote economic development in China.

China will establish a pilot free trade zone or FTZ in the Xinjiang Uygur autonomous region     1     (promote) high-quality development in the central and western regions, and better serve the Belt and Road Initiative, according to a guideline     2     (issue) by the State Council on Tuesday. The pilot FTZ will have three subzones in Urumqi, Kashgar and Khorgos,     3    covers a combined area of 179.66 square kilometers.

    4     (take) full advantage of its land and airports, the Urumqi subzone will strengthen the construction of a land port-based national logistics (物流) center. It will also become an important platform for exchanges and cooperation     5     neighboring countries in Central   Asia. Based on its advantageous location for international trade and logistics, the Kashgar subzone will grow     6     (it) export economy, placing emphasis on labor-intensive industries. Building on     7     strengths of cross-border cooperation, the Khorgos subzone will promote the development of cross-border logistics, tourism, and other modern service     8     (industry).

A high-quality FTZ with high standards     9     (establish) in three to five years, with a greater trade convenience,     10     (good) resource sharing, effective management, and the ability to drive the development of their surrounding areas.

China is one of the few countries that can trace (追溯) its existence back over thousands of years down to 221 BC     1     it was united by the Qin Dynasty. Time and time again down the centuries civil wars or foreign invasions divided China into rival kingdoms,     2     after every period of war, China would always come into one united country.

Over history, the Chinese people created their language and their civilization.     3     (they) characters appeared in the Shang Dynasty around 2000 BC. Their     4     (invent), especially paper, printing, gunpowder and the compass,     5     (great) changed the fortunes of human beings. These innovations (创新) are key to     6     (understand) why China’s economy was among the largest in the world for 20 of the last 22 centuries, and why China in 1820 made up a third of global GDP, more     7     America, the UK and Europe combined.

The last 45 years have     8     (see) another astonishing rejuvenation (复兴). By releasing the genius of its people, China has achieved the     9     (big) and fastest economic growth the world has ever known. Under     10     leadership of the CPC, no less than 800 million people have lifted them out of poverty (贫困) in a nation that has a fifth of all humanity and a vast area almost as large as Europe.

TikTok, a hugely popular short-form video platform, shut down its Shop application in Indonesia after a ban     1     commerce on social media platforms, a blow to the app’s business in a major market.

TikTok Shop is one of the social network’s     2     (late) attempts to generate more profit.     3     (create) and brands can add a Shop button to their videos and live broadcasts,     4     (allow) users to buy products with a few taps without leaving the app.

The app itself was not banned in Indonesia. But people there could no longer buy or sell goods through TikTok or other social media platforms. The rules, which essentially require the separation of e-commerce and social media,     5     (mean) to protect local businessmen, prevent the market from     6     (affect) and stop the use of personal data for business purposes.

Some Indonesian businessmen who     7     (rely) on TikTok Shop said the new rules hurt their business. Dennies Soesanto, who sells bags and suitcases, said his profit on TikTok Shop was three times     8     of other e-commerce platforms. “Closing TikTok Shop is not saving the small and medium enterprises (企业),” he said, “    9     saving other e-commerce platforms.”

The ban in Indonesia, home to six million sellers on TikTok, could increase the pressure on TikTok Shop in the other countries     10     it operates.

Demand for the world’s     1     (smell) fruit has soared 400%, fueled by China’s ‘craze’ . Some say it’s sticky-sweet, others say it smells like socks. Love it or hate it, the appetite for durians is growing     2     (greed) — especially in China. Global demand for polarizing fruit soared 400% year-on-year, according to HSBC which said it’s accelerated by a “craze” for the fruit in China. “Contrary     3     global trends, durian demand is surging by 400% year-on-year     4     (lead) almost solely by a craze in China.”, a report released by the bank on Monday said.

Over the past two years, China     5     (import) $6billion worth of durians - accounting for 91% of global demand, HSBC’s ASEAN economist Aris Dacanay said in the report. The “durian boom” is largely concentrated in China. Chinese consumers view it not only as a fruit but also as a great gift,     6     the receiver see the giver’s wealth from at once. Additionally, it has become more common in China     7     (include) durians as part of customary gifts to friends and relatives upon engagement (订婚) . While the boom in China’s durian demand started as early as 2017, the uptick only picked up from late 2022, according to data from HSBC. The “king of fruits” sells for more than $10 a kilo in China, compared to     8     average of around $6 a kilo across Southeast Asian countries. And the main supplier of this surge     9     demand lies in ASEAN,     10     (account) for 90% of the world’s durian exports in 2022. Thailand alone makes up 99% of total durian exports in the 10-nation Southeast Asian bloc comprising Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

The silver jewelry produced by the Miao ethnic group has been the key to driving rural development in Taijiang County,    1    area located in the Qiandongnan Miao and Dong Autonomous Prefecture(自治州)of Guizhou Province.

The jewelry is a magnificent treasure of Miao culture,    2    (present) delicate silver jewels and traditional craftsmanship.The Miao ethnic group    3    (keep)the tradition of decorating themselves with handmade silver ornaments for over 400 years.In May 2011, the silver forging skill of the Miao ethnic group was recognized and included in the third group of    4    (nation)intangible cultural heritage list.

    5    (drive)by the popularity of ethnic festivals and people’s growing interest in silver jewelry,the local tourism industry has enjoyed a boost in recent years.To    6     (far) encourage development,Taijiang County has focused    7    developing the ethnic folk handicraft industry,aiming to enhance the promotion of traditional Miao silver jewelry,create more job     8    (opportunity)and boost regional tourism.By the end of 2021,there were 102 local enterprises devoted to making silver jewelry,    9    total output value reached more than100 million yuan($13.68 million).This significant growth in the silver jewelry industry has laid a strong foundation for the county     10     (promote)rural revitalization.