At the beginning of 2020, the Covid-19 epidemic shocked the world. Besides the direct economic losses and social unrest, the pandemic has also changed our working and living patterns.
In 2020, the Chinese central government proposed to upgrade the industrial structure to tackle the pressure of both global pandemic and international trade frictions (especially with the U.S.).
It requires changing the export-oriented economy to a new "dual circulation" development, focusing on both international trade and domestic consumption.
Therefore, it is a huge challenge for Yiwu, which relies largely on foreign trade, to respond best to the pandemic.
This report focuses on various unprecedented fluctuations, i.e., increasing shipping cost, limited factors exchanges, and local market demand changes.
To accommodate changes in the global trade structure, Yiwu also has to focus on the domestic market, while consolidating its export advantage.
Since February 2021, our research team has been conducting online and offline interviews with Chinese and foreign business people and government officials in Yiwu.
We have also visited Yiwu's markets and factories to understand their difficulties and needs better. Combining with the related policies and literature review, we hope to treat Yiwu as an example to further understand China's export during the epidemic.