Yiwu Index: An Indicator of Small Commodity Prices and Market Quotation

Yiwu·China Commodity Index (Yiwu Index for short) is known as the "Dow Jones Index" of the global commodity industry. As a commodity trading market with complete functions, wide coverage, and high degree of specialization, Yiwu's small commodity market's trading scale, price trends, and prosperity have a certain impact on the national and even global consumer goods market. Before the "Yiwu Index", buyers could not judge the price trend of products in the next period of time, which made them unable to prepare in advance.

On October 22, 2006, the "Yiwu Index" composed of the small commodity price index, the small commodity market prosperity index and the small commodity market individual index officially released the first phase of the index to the world, creating a precedent of the market fair indexing. In the past 14 years, with the continuous expansion of the Yiwu market, the data collection and daily operation of the "Yiwu Index" have also been improved. At present, the sampling scope of "Yiwu Index" covers the five districts of Yiwu International Trade City. The sampling is divided into four levels according to 15 major categories, 97 medium categories, 525 subcategories, and 1964 subcategories, and the index representative product information in the market will be collected and calculated every Monday and Wednesday.

For Yiwu market operators, the "Yiwu Index" provides them with timely, accurate and authoritative business information. According to the trend of Yiwu Small Commodity Prosperity Index, they can organize the production of marketable commodities on the market in a timely manner, select operating varieties and  timing to purchase goods, maintain reasonable inventory, improve capital utilization, thereby enhancing business efficiency. Similarly, for Yiwu sourcing agents, they can determine the purchase price according to the price trend of Yiwu small commodities, and have the initiative to negotiate and trade. It can be said that today's "Yiwu Index" has become an important reference for China's major small commodity manufacturers and domestic and foreign buyers.