Two public overseas warehouses managed by Yiwu-based enterprises were recently recognized and awarded by the Zhejiang Provincial Department of Commerce.

The public overseas warehouse in Valencia, Spain, managed by Yiwu Yimi Supply Chain Management Co, was rated a first grade warehouse to win 1.5 million yuan ($235,025) in awards. The public overseas warehouse in Cameroon, Africa, managed by Yiwu Baotong International Freight Forwarding Co, ranked as a second grade warehouse and received an award of 1 million yuan.

In recent years, Yiwu has been promoting the construction of overseas warehouses globally. The city has established an overseas trade service system that has promoted the stable growth of foreign trade, and in 2021, it released a plan to build 200 overseas warehouses over the next three years.

According to incomplete statistics, Yiwu has built a total of 145 overseas warehouses for cross-border logistics, trade and e-commerce entities, with an operating area of nearly 950,000 square meters in total.

Yiwu's overseas warehouse sites cover 50 countries, including Russia, the Philippines, and Spain. Among them, 60 percent are logistics-supporting overseas warehouses.

Officials have said that Yiwu will continue to explore new methods of developing overseas warehouses, aiming to build a comprehensive cross-border logistics service system serving global small commodity trade.