A livestreaming host is seen to promote goods in Yiwu, East China's Zhejiang province. [Photo/Yiwu Media Convergence Center]

E-commerce players in Yiwu, East China's Zhejiang province have in recent weeks been busy preparing for this year's Singles Day shopping festival.

This time of the year marks the busiest period for Qingyanliu village, which is recognized as the "No 1 Taobao Village in China" for its robust e-commerce development.

Located in Yiwu's Jiangdong sub-district, Qingyanliu village is home to 4,000-plus online stores that generate annual sales of over 7 billion yuan ($1.08 billion).

Wang Jialin, a commercial livestreamer from the village, said that the daily revenue and viewership numbers of the clothing store she works has grown by about 20 percent and 10 percent respectively in recent weeks.

Zhou Dongliang, president of Yameng E-commere Co Ltd, which is based in the village, said the shopping festival has been an important driver of the company's development over the years. His company currently runs 30 stores on online marketplaces including Taobao and Pingduoduo.

Yiwu's e-commerce transaction value totaled 292.87 billion yuan in the first nine months of this year, up 7.62 percent year-on-year, official statistics show.