Yiwu's gross domestic product (GDP) hit 205.56 billion yuan ($28.58 billion) in 2023, marking an 8 percent growth and breaking the 200 billion yuan mark for the first time, according to the government report delivered by mayor Ye Bangrui at the third session of the 16th Yiwu Municipal People's Congress on Feb 4.

The city's general public budget revenue also surged, reaching 144.3 billion yuan, an 8.6 percent increase. The total import and export volume soared to 566.05 billion yuan, up by 18.2 percent, with exports totaling 500.57 billion yuan, surpassing 21 provinces nationwide.

The city's market entities expanded significantly, totaling 1.05 million, a 17.4 percent increase. The number of e-commerce entities surpassed 600,000, representing one-third of the province's total.

Moreover, the Yixin'ou (Yiwu-Xinjiang-Europe) freight train operated 1,580 times, maintaining its position leading the nation. Express delivery volume reached 10.58 billion pieces, accounting for one-twelfth of the national total.

The output value of industrial industries above designated size amounted to 166.1 billion yuan, with a growth rate of 6.8 percent. Additionally, the urban-rural income gap narrowed to 1.83, with a 14 percent increase in per capita disposable income for low-income rural households.

Looking ahead to 2024, Yiwu aims for a GDP growth rate of around 7.5 percent, an 8 percent uptick in general public budget revenue, export growth outpacing provincial import growth by about 20 percent, a 6 percent increase in total retail sales of consumer goods, and a 10 percent increase in industrial output value, with a 12 percent rise in fixed asset investment.