The groundbreaking ceremony for the Yiwu International E-commerce Digital Port Industrial Park (Phase 1) was held in Yiwu on June 30.

The project is located south of Beiyuan Road, west of Jichang Road, and north of Xuefeng Road. It mainly includes the construction of the e-commerce digital industrial park, living facilities, public parking lots, and supporting roads.

Once completed, the project will provide platform support for cost reduction and efficiency improvement for e-commerce entities and is expected to boost the overall development level of the city's e-commerce industry.

In 2022, Yiwu's e-commerce transaction volume reached 390.7 billion yuan ($53.92 billion), growing 15-fold in just 12 years.

The total number of registered e-commerce entities in the city has exceeded 520,000, accounting for 54 percent of the total market entities. Yiwu has also built 32 e-commerce parks with a total area of over 2.6 million square meters.