The Yiwu International Digital Logistics Market, a key financial project in East China's Zhejiang province, started construction in Jinhua on Nov 2.

With a total investment of 2.8 billion yuan ($396.9 million), the Yiwu International Digital Logistics Market will cover about 37.27 hectares and feature about 740,000 square meters of warehouses and supporting facilities.

Construction on the project will last until 2024. After the project is completed, the Chinagoods platform of Yiwu Small Commodities Markets will be used to improve the automation level and management quality of logistics and warehousing.

The project is expected to feature a leading intelligent international logistics warehousing logistics system and promote the development of Yiwu's international digital logistics market. 

Since July this year, a total of six projects in Yiwu have passed the review of the National Development and Reform Commission, with a fund quota exceeding 1.46 billion yuan.

So far, four projects, including the Yiwu International Digital Logistics Market Project, the third phase of the Jiangdong Sewage Plant, the second phase of the Wude Water Purification Project, and the Cross-border E-commerce Intelligent Integrated Logistics Service Base, have been put into operation, with a quota of 365 million yuan.