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Yiwu offers microcosm of China’s fast-growing cultural, tourism market

2026-05-11 09:13   环球时报网英文版

  A case in point is the market for trendy toys. According to a report by market research firm iResearch on China"s IP designer toy economy, the market reached 79.6 billion yuan ($11.7 billion) in 2025, representing 17.4 percent year-on-year growth. The report projects that the market is likely to exceed 100 billion yuan by 2027.

  Market growth on the consumption side would generate economic value as supply-side capabilities adapt. Production needs to keep pace with the shifting market demand, and China"s manufacturing sector is increasingly doing so, turning emerging consumer trends into the driver for flexible, fast-response supply chains.

  Yiwu is such of a good example. The diversity of products and the rise in design sophistication illustrates how quickly production can respond to consumer preferences.

  Integrated production clusters and flexible manufacturing systems allow cultural and creative concepts to be translated into physical products rapidly, with some fast-moving items reaching the market within 24 hours or even shorter, according to Chinese media reports.

  Over the medium to long term, China"s cultural and tourism consumption is likely to remain on an upward trajectory, creating new opportunities for both domestic and international supply chains. As consumers place greater emphasis on experiences and quality, foreign brands and designers may find growing points of engagement.

  Some Western media outlets have portrayed Chinese consumption as stagnant, which does not reflect reality. For international companies with an interest in the Chinese market, opportunities lie in recognizing emerging consumer trends and working with domestic supply chains to respond effectively.

  The author is a reporter with the Global Times. bizopinion@globaltimes.com.cn

  

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