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Yiwu market today,peddlers' confraternity in the past

Source: Yiwu sourcing agent    Author: Helan      Date: 2007-12-14

The local people of Yiwu have been good at trading since ancient times and have a trading tradition of "making small profit with small things".According to statistics, 50,000 out of 600,000 local people were still doing small business in 1982. The existence of sugar load peddlers' confraternity played the key role in the development of the Yiwu commodities market, because this trade union functioned as the originator of the market and helped build up the cultural climate of commerce.

"Industrious and Studious, Adventurous and Righteous."That's the humanistic quality of the Yiwu people, a quality with local characteristics developed from the local culture. Yiwu's commercial culture is neither academic theory norknowledge broadcast through books; it is in fact a tradition of trade originated from sugar load peddleers' confraternity and carried forward among the folks. This culture is a typical product of the folks' activities in trade.
In Yiwu, the law of value is the absolute principle. People there seek to achieve something big and large through gaining something small and little. They won't miss any chance of making profit, no mater how small it is.
A saying goes in Yiwu for making fortunes:"To be a boss, one should get used to sleeping without a doss."What a simple but great spirit! Once when Iwas doing research in a company, I found that the owner of the company rode a tricycle to deliver goods to a customer by himself during the noon break. I asded him why he did not hire someone to do it. He ansered that saving 3 yuan meant earning earning 3 yuan. The thought "saving means earning" turned Yiwu into China's commodities trade center step by step.
Yiwu's market was from the very beginning dominated by nongovernmental economy, but during its growth, the local government played a critical role by providing guidance, supervision, regulation, service, etc. Every step forward in Yiwu's development was pressed with the appropriate function of this helpful and useful government, a government that respects the people's pioneering spirit, and helps orient the economy to marketization.
The local government keeps its powerful authoritativeness with many strict and strong measures in different areas, such as market construction, rental pricing of booths, transportation regulating , division of trade and industry, cracking down on counterfeit and shoddy goods. It is known by all local people that market and marketization, fostered with nongovernmental capital, is the essence of Yiwu ' s economy. Nongovernmental capital plays its important part ubiauitously and equally-even some public facilities are funded by nongovernamental money. But it is wise of the local government to have the property right of the market-the city's life line taken strong hold of by the large government holding enterprises. This helps avoid destructive competition among market rivals.

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