义乌市场商铺"一席难求"的背后，是这座"世界小商品之都"自带的流量，也是中国外贸尤其是中小微外 贸企业的韧性所在。 作为义乌第六代市场的标杆，将在今年10月开业的全球数贸中心市场板块正处于面向全国招商的阶段， 商铺"一席难求"。 根据商城集团的数据，截至7月6日报名截止日，义乌全球数贸中心（市场板块）婴幼童成长用品、护肤 及医美用品行业共计900多个商铺，吸引的报名人数超过1.9万户，相当于20多人竞争1个商铺，其中包 括奥飞实业、高乐股份等10余家上市公司，以及600余家规模以上企业。 "一席难求"背后 义乌市场商铺"一席难求"的背后，是这座"世界小商品之都"自带的流量，也是中国外贸尤其是中小微外 贸企业的韧性所在。 "义乌市场对全球的客商来说，就是购物天堂、最大的超市，人流是源源不断的。"义乌中国小商品城商 会化妆品行业副会长、沃卡丽（浙江）生物科技有限公司负责人吴光亮告诉第一财经，从广东来到义乌 的他们，已在义乌市场扎根25年之久。他们之所以第一时间报名"抢"新一代市场的商铺，也是和大家一 样仍然看好义乌，"要做外贸，义乌市场是首选"。 不只是"押注"新一代市场，他们在当前客流集聚地义乌国际商城的投入也 ...

以下文章来源于新周刊 ，作者玛丽奥 新周刊 . 中国最新锐的生活方式周刊。 来源丨 新周刊（ID：new-weekly） 作者丨 玛丽奥 编辑丨 曾宝气 图源丨Midjourney 近年来，义乌吸引了不少Z世代前去创业，他们逐渐形成一个庞大的群体——"乌漂"。他们日夜不停 地为义乌·中国小商品指数（简称"义乌指数"）贡献着自己的力量，不少人在这里治好了精神内耗， 因为这里不讲"底层逻辑""颗粒度"，只讲实干。 南瓜是90后，义乌本地人。接受采访的时候，她刚带完两天一夜的"义乌游学团"回来，但仍然激情四 射，语速飞快，像 台不知 疲倦的永动机。 近两年来，她一直从事着由义乌国际商贸城衍生的新兴产业，因为她发现越来越多人想要走近这座城 市——有人想开启自己的小生意，有人想摸索社交平台上的电商，也有人想搭建桥梁做跨境贸易。于 是她干脆组团带大家逛店铺、跑源头工厂 ，让想创业的人在最短的时间里快速找到这个城市的赚钱秘 籍。 这也是南瓜的第一次创业。她原本是杭州的上班族，命运的转折源于一次"无心插柳"：有一次，她在 社交平台上随手分享义乌商品的帖子，意外爆火，收获了四五千个"赞"，商品订单随之涌来。不久之 后，她刚好被 ...

目前义乌市场的稳定币实践仍处于早期探索阶段。这种基于区块链的数字支付工具能否在庞大而传统的 小商品贸易生态中扎根生长，既取决于技术便利性能否真正覆盖兑换成本和合规风险，也仰赖于监管框 架的完善与市场基础设施的配套支持。 然而，传统结算方式仍占据主流。出口退税政策是重要影响因素——2023年义乌出口退（免）税总额达 120.71亿元，同比增长14.78%。通过银行渠道结算形成的交易流水，不仅有助于企业获取贷款，还能作 为申请广交会等大型展会摊位的资质证明。同时，商户对稳定币的合规性存在顾虑，担心可能触发反洗 钱审查导致账户冻结。 作为市场运营方，浙江中国小商品城集团股份有限公司公开表示，其跨境支付平台"义支付"正密切关注 香港稳定币监管框架，计划在法规明确后择机提交牌照申请。该公司强调，依托义乌市场的海量跨境商 贸场景，稳定币有潜力为全球客商提供更高效的支付解决方案。 义乌国际商贸城，这座全球最大的小商品集散地，每年吸引超过56万境外采购商，商品远销233个国家 和地区。近期，市场传闻称义乌已有超3000家商户使用USDT等稳定币收款，月流水突破10亿美元。但 实地调查显示，多数商户对稳定币仍显陌生。当被问及是 ...

Core Insights - The export volume to the Dubai market has increased by over 50% compared to the same period last year, indicating strong customer demand in the Yiwu market [1] - The number of clients from countries involved in the Belt and Road Initiative has grown by over 30% year-on-year, reflecting the market's expansion [1] - Yiwu is transitioning from a "source of goods" to a "brand upgrade," driven by fashion, internationalization, and digitalization [1][5] Group 1: Market Dynamics - The integration of online and offline sales has created a robust ecosystem for small commodity trade in Yiwu [1] - The influx of tourists and increased foot traffic in Yiwu International Trade City has led to a surge in retail sales, particularly during the summer season [3] - The rise of IP-driven products has transformed ordinary goods into popular items, with significant sales growth in categories like anime-themed merchandise [3][4] Group 2: Sales Innovations - The "live streaming" sales model has gained traction, with thousands of "walking broadcast" hosts operating in Yiwu, enhancing product visibility and sales [4] - Data indicates that by April 2025, approximately 70% of businesses in the Yiwu accessories sector will engage in live e-commerce [4] - Yiwu's total import and export volume is projected to exceed 600 billion yuan in 2024, marking an 18.2% year-on-year increase [4] Group 3: Brand Development - Yiwu merchants are increasingly focusing on brand cultivation and expansion, with significant investments in brand identity and storytelling [5][7] - The establishment of the first "Chenming Accessories" store in South Korea marks a strategic move towards global brand presence [6] - The number of effective trademark registrations in Yiwu reached 218,000 by the first quarter of 2025, reflecting a growth of 8.77% [7]

Core Insights - "义支付" has achieved a cross-border payment amount of 2.58 billion USD by the end of June 2023, representing a year-on-year growth of 47% [1] - The platform supports 26 mainstream currencies and operates in over 170 countries and regions, facilitating the transition of Yiwu from "buying globally" to "paying globally" [1] - The acquisition of the internet payment license has significantly benefited small commodity businesses in Yiwu, enhancing their operational efficiency and reducing costs [2] Group 1 - "义支付" has opened over 20,000 cross-border RMB accounts and processed over 8.5 billion RMB in cross-border RMB payment transactions in its first complete accounting year under the management of 小商品城 [3] - In 2024, "义支付" achieved a total cross-border collection of over 4 billion USD, a year-on-year increase of 233%, with a net profit of 61.04 million RMB, up 274.67% [3] - The platform has launched several product upgrades and convenience services based on user demand and is actively collaborating with banks to support local collection accounts in Africa [3] Group 2 - "义支付" has established partnerships with multiple foreign banks and domestic banks like Bank of China and Minsheng Bank to enhance its cross-border settlement capabilities [1] - The platform allows businesses to receive payments in their local currencies, such as Japanese Yen, and choose the optimal timing for currency exchange, thus reducing operational complexity and exchange costs [2] - The development of "义支付" is part of a broader strategy to create a financial service ecosystem that includes internet payment, credit, and factoring licenses [2]

Core Insights - Yiwu's market is experiencing a significant increase in customer traffic and business transformation from wholesale to retail-wholesale integration, benefiting from its designation as a shopping tourism destination [1] - The number of customers from "Belt and Road" countries has increased by over 30% this year, reflecting the diversification of Yiwu's foreign trade market [1] - Yiwu's exports are showing double-digit growth, particularly in new markets such as Africa and Central Asia, with a shift towards online business models [1][2] Group 1: Market Dynamics - Yiwu's market is witnessing a surge in orders, with many small and medium-sized foreign trade businesses capturing market demand through product innovation and design [2] - The demand for products like inflatable swimming rings has skyrocketed, with monthly sales exceeding 300,000 units, driven by popular IP designs [4] - The sports goods sector is preparing for the 2026 World Cup, with a noticeable increase in orders, particularly for fan apparel and sports equipment [5][6] Group 2: Export Growth - Yiwu's total import and export volume is projected to grow by 18.2% in 2024, with exports increasing by 17.7%, making it the top county-level city in the province [9] - From January to May 2025, Yiwu's sports goods exports reached 4.79 billion yuan, marking a 16.6% increase [6] - The city is focusing on expanding its market presence in Southeast Asia, Central Asia, South America, and Africa, aligning with the "Belt and Road" initiative [11] Group 3: E-commerce and Digital Transformation - Yiwu is enhancing its online market presence, with over 75,300 e-commerce entities, accounting for 29.7% of Zhejiang province [10] - The city has hosted over 200 events to promote cross-border e-commerce, resulting in significant increases in professional buyer attendance and transaction volumes [10] - Yiwu is developing a cross-border e-commerce industrial park, aiming for over 100 billion yuan in online trade volume [10] Group 4: Government Support and Financial Innovation - The local government is actively supporting foreign trade businesses through initiatives like the "Ten Thousand Buyers Invitation" campaign and increasing flight frequencies to attract international buyers [9] - New financial products have been introduced to help foreign trade companies mitigate risks, providing a safety net for shipping costs [12] Group 5: Domestic Market Expansion - Yiwu is also focusing on expanding its domestic sales market, with a significant increase in trade exhibitions and participation from international buyers [13]

证券研究报告 东吴证券晨会纪要 东吴证券晨会纪要 2025-06-20 宏观策略 [Table_MacroStrategy] 宏观点评 20250619：美联储全年降息或不及 2 次——2025 年 6 月 FOMC 会议点评 核心观点：6 月 FOMC 如期不降息，同时在声明中删除了更高失业率与 通胀的判断。经济预测中美联储下调了美国 GDP 增速预期，上调了失业 率与 PCE 通胀预期，判断经济前景将更加滞胀。虽然更滞胀的经济预期 并未让今年的点阵图中值发生变化，但点阵图分布明显更鹰派。发布会上 鲍威尔对经济保持信心、对通胀保持耐心，表示按兵不动是最佳策略。向 前看，相对于增长的下行风险，美联储仍然更担心通胀的上行风险与不确 定性，更晚降息更有利于确保关税带来的通胀冲击是一次性而非持续性 的；同时特朗普对美联储货币政策独立性的干预仍然存在，这或打乱、延 后美联储原有的降息进程。因此我们预期今年全年降息次数或不及 2 次。 风险提示：特朗普政策落地节奏与预期相差较大；美联储维持高利率水平 时间过长，引发金融系统流动性危机；通胀下行速率不及预期。 宏观点评 20250618："1+6"体系精准支持硬科技企业 ...

行业背景：跨境金融合规化与中小微企业需求的共振 小商品城（600415.SH）近期宣布拟通过全资子公司浙江迅弛数字科技在香港设立两家全资子公司，并 申请香港TCSP（信托或公司服务提供者）牌照。 战略意图：从支付工具到综合金融服务的跃迁 小商品城旗下的"义支付"（Yiwu Pay）已具备跨境支付基础（2024年跨境收款超40亿美元，同比增长 233%），但传统支付业务利润率有限。通过TCSP牌照，公司可拓展信托、公司秘书服务、资金托管等 高端业务，将"义支付"从支付工具升级为"支付+金融解决方案"的综合平台，提升服务附加值。 香港作为国际金融中心，其成熟的监管体系、资本流动自由度及离岸人民币业务优势，是小商品城拓展 全球化业务的关键跳板。设立子公司后，公司将利用香港的金融资源，为义乌市场及全球中小微企业提 供跨境贸易金融一体化服务（如担保支付、定制化理财），并探索离岸家族信托、稳定币等创新业务。 小商品城拥有全球最大的小商品贸易网络（覆盖230多个国家，2024年义乌进出口总额6689亿元），天 然具备高频跨境结算需求。通过TCSP牌照，公司可将实体贸易场景与金融服务深度融合，解决中小微 企业融资难、交易信任 ...

过去几年，全球经济的起伏、国际贸易环境的波动、互联网浪 潮的冲击，都在倒逼着义乌商人们不断调整步伐。就像四十年 前的第一代义乌商人那样，他们不去想象多年后的义乌会是哪 般景象。但在当下，他们依旧涌动着那股"买卖全球"的野心。 作者：田进 高泽 封图：本报资料室 在距离国际商贸城8公里的苏溪镇，金小涛和胡佳奇负责的展厅正在试图改革传统义乌商人的贸易 方式。 他们舍弃高租金的黄金地段，转而通过抖音、小红书等平台打造线上流量矩阵，以丰富品类与优质 服务吸引国内外客户。短短两年，外贸占比从零升至50%。金小涛说："通过自媒体获客，是与传 统商业模式最大的不同。" 土生土长的义乌商人虞晨航是典型的"义乌二代"。曾经，他的父辈所面对的市场环境是货物供不 应求，商品利润空间也非常可观。但在当下利润空间被压缩、市场竞争加剧的背景下，他开始将生 意"化整为零"，面向普通消费者做零售。 当然，义乌仍有大量外贸商选择坚守。在国际商贸城的店铺里，竣熙箱包创始人陈丽秀和一可箱包 创始人邱小南依然延续着"守株待兔"的坐商模式。她们凭借多年积累的外贸经验，维系着与老客 户的紧密联系。她们的经营理念是，深耕实体、服务好每一位客户，比盲目转型 ...

毛球员具 FIFTC PUM TOTS 可到10 1349-1349 同 C1 1347-1361 FACIONY STORE 7 200 all rate 10 3 - 5 - 0966 小黑 ll a fi r the read ON crains 记者 田进、高泽 在距离国际商贸城8公里的苏溪镇，金小涛和胡佳奇负责的展厅正在试图改革传统义乌商人的贸易方式。 他们舍弃高租金的黄金地段，转而通过抖音、小红书等平台打造线上流量矩阵，以丰富品类与优质服务吸引国内外客户。短短两年，外贸占比从零升至 50%。金小涛说："通过自媒体获客，是与传统商业模式最大的不同。" 土生土长的义乌商人虞晨航是典型的"义乌二代"。曾经，他的父辈所面对的市场环境是货物供不应求，商品利润空间也非常可观。但在当下利润空间被压 缩、市场竞争加剧的背景下，他开始将生意"化整为零"，面向普通消费者做零售。 当然，义乌仍有大量外贸商选择坚守。在国际商贸城的店铺里，竣熙箱包创始人陈丽秀和一可箱包创始人邱小南依然延续着"守株待兔"的坐商模式。她们凭 借多年积累的外贸经验，维系着与老客户的紧密联系。她们的经营理念是，深耕实体、服务好每一位客户，比盲目转 ...