Yiwu experiences Olympic buzz as production orders surge

The 2024 Paris Olympic Games opened on July 26 in Paris, France.

In the Yiwu International Trade Market, located in Yiwu city, the world’s largest wholesale market for small commodities in east China’s Zhejiang Province, the Olympic atmosphere has been vibrant.

Foreign businessmen choose sports equipment at a shop in the Yiwu International Trade Market located in Yiwu, east China’s Zhejiang Province. (People’s Daily Online/Fang Pengyimeng)

Capitalizing on the “Olympic economy”

Zhou Jian, head of Yiwu Jianyong Sporting Goods Co., Ltd., has been selling sporting goods in Yiwu for 30 years.

Her company has been an agent for Double Fish Sports Group, a Chinese sporting goods manufacturer based in Guangzhou, south China’s Guangdong Province, for 26 consecutive years.

Double Fish Sports Group is the exclusive supplier of table tennis balls for the Paris 2024 Olympic Games. As a dealer, Zhou’s company will be providing table tennis balls for the Olympic Games.

At the company’s store, located in the Yiwu International Trade Market, a Double Fish Paris PAR40 table tennis ball gift package is prominently displayed.

“This special edition contains five table tennis balls that form the Olympic rings, with each ball featuring an image of the Eiffel Tower,” said Zhou.

Photo shows a Double Fish Paris PAR40 table tennis ball gift package displayed at the store of Yiwu Jianyong Sporting Goods Co., Ltd., located in the Yiwu International Trade Market in Yiwu, east China’s Zhejiang Province. (People’s Daily Online/Fang Pengyimeng)

The official table tennis ball for the Paris 2024 Olympic Games is also highly popular among customers.

The price of a box of table tennis balls for the Olympic Games, which contains six balls, has reached over 40 yuan (about $5.52) at its highest. This translates to more than 6 yuan per ball. In comparison, the cheapest table tennis ball in the store costs less than 1 yuan.

Wen Congjian, who runs a sportswear business in the Yiwu International Trade Market, has found success in the lucrative “Olympic economy.”

“This is our original design, a fan jersey created specifically for the Paris 2024 Olympic Games. We even registered the copyright for it. The fabric is breathable, and we've incorporated some French elements into the design,” explained Wen. “This jersey has been a hit and we’ve already shipped 100,000 to Paris.”

Photo shows a fan jersey, which is predominantly dark blue in color, featuring the French national flag elements on the cuffs and collar. (People’s Daily Online/Fang Pengyimeng)

Wen revealed that his company had shipped all the orders for the Paris 2024 Olympic Games two months ago, and overall his company has seen a revenue increase of about 30 percent compared to last year.

Apart from sports equipment, various small items like flags, cheering sticks, and wristbands have also been shipped from Yiwu to Paris. Local business owners are experiencing firsthand the market opportunities created by the Paris 2024 Olympics.

“The year of big sports” accelerates overseas expansion

For businesses like Wen’s, the Paris 2024 Olympic Games aren’t the only reason for increased sales this year. Both the Copa America and UEFA European Championship occurred early in the summer, contributing to even more opportunities for merchants.

Wu Xiaoming, general manager of Aokai Sporting Equipment, has been involved in the football merchandise business for 30 years. Aokai has supplied match balls for various international sporting events.

With the arrival of major international events this year, the company has been receiving orders from Europe, South America, Africa, and other regions since the beginning of the year.

Photo shows football product samples at the shop of Aokai Sporting Equipments in the Yiwu International Trade Market in Yiwu, east China’s Zhejiang Province. (People’s Daily Online/Fang Pengyimeng)

“In general, the period from June to September is typically regarded as the low season for football sales. However, this year has been extraordinary due to the abundance of major international sporting events. We have experienced a significant surge in demand for our merchandise, and our factory has been operating busily to meet the orders,” explained Wu.

“To date, we have already delivered around 800,000 products, and our factory's order backlog extends all the way to the end of July,” said Wu.

Chen Xianchun, sales manager of Jinzun Stationery & Sporting Goods Company in Yiwu, has also capitalized on this opportunity.

“We mainly produce trophies and medals, with 70 percent of them being exported, primarily to South America and the Middle East,” explained Chen.

“In the first half of this year, we produced over 200,000 trophies and medals, experiencing a growth in order volume of approximately 20 percent,” Chen added.

Photo shows trophies at the shop of Jinzun Stationery & Sporting Goods Company in the Yiwu International Trade Market in Yiwu, east China’s Zhejiang Province. (People’s Daily Online/Fang Pengyimeng)

According to statistics from Yiwu Customs, from January to June this year, Yiwu’s sports products and equipment exports reached 5.02 billion yuan, growing 42.3 percent year-on-year.

Why is Yiwu always able to seize business opportunities?

Yuan Ying, head of Yiwu China Small Commodity Market Overseas Investment Development Co., Ltd., explained that Yiwu boasts high market sensitivity, a quick response, and strong organizational and supply capabilities, which are crucial factors for popular products to reach domestic and overseas markets.

“In the past, my company relied on OEM (original equipment manufacturers), which led to inconsistent product quality and hindered brand growth,” explained Wu.

“In recent years, we have expanded our market through brand building. In 2002, we registered the ‘Meik’ brand, making a shift towards the high-end market,” Wu added.

Photo shows products of the brand “Meik,” rolled out by Aokai Sporting Equipments in Yiwu, east China’s Zhejiang Province. (People’s Daily Online/Fang Pengyimeng)

Wu’s journey in brand building reflects the broader trend of Yiwu’s market expansion overseas.

In September 2023, Yiwu launched an initiative to help local brands expand globally.

Photo shows an overseas sales platform established by Yiwu Market. (Photo courtesy of Yiwu China Small Commodity Market Overseas Investment Development Co., Ltd.)

Currently, the initiative has expanded to 14 countries, helping over 3,000 Yiwu business owners venture into overseas markets.

In 2024, the “world’s supermarket” Yiwu proclaimed a new slogan: “Come to Yiwu, do business with the world.”