Chongqing - The Yuxinou Chongqing-Minsk route, piloting the market procurement trade, embarked on its inaugural voyage from Tuanjiecun Railway Station on October 28. 

Loaded with approximately 6 million U.S. dollars worth of goods, the train will deliver small commodities from the Chongqing Dazu Longshui hardware market to the Chongqing Chenxi Import and Export Trading Co., Ltd. in ten days. Then, it will continue on to Minsk.

The first launch of the Yuxinou Chongqing-Minsk route. (Photo/ Chongqing Municipal Commission of Commerce)

A leading hub reminiscent of Yiwu's success

Longshui hardware market is the largest hardware market cluster in western China, integrating hardware trading, metal trading, and extensive commerce.

The market procurement trade mode, initiated in Yiwu in 2013, allows for fast customs processing and VAT (Value-Added Tax) exemption. Qualified businesses can purchase items with a declared value of up to 150,000 U.S. dollars in markets approved by commerce officials and related agencies. They can also clear customs right where they buy the goods. 

As this model matures, it is pushing the scale of national market procurement trade exports to surge. Dazu Longshui Hardware Market is poised to become a leading hub reminiscent of Yiwu's success.

Yiwu City is located in the central part of Zhejiang province, bordering the eastern edge of the Jinhua-Quzhou Basin. The Yiwu International Trade Market is the epicenter of the world's largest trading hub for small commodities. It attracts hundreds of thousands of sellers and buyers every day.

The container handlers are stacking containers that need to be transported at this time. (Photo/ Chongqing Municipal Commission of Commerce)

A global presence for small commodity groups

Dazu Longshui Hardware Market, designated Chongqing's sole pilot for the national market procurement trade mode in 2022, witnessed its inaugural shipment via Belarus's Minsk train route. This train transports 55 containers packed with diverse goods ranging from automotive parts and hardware tableware to office supplies and lighting fixtures.

This development aims to transition from "domestic sales" to "overseas orders," fostering a global presence for small commodity groups. 

"The market procurement trade offers a revolutionary approach to trade with benefits such as VAT exemption, efficient customs processes, and foreign exchange settlement innovation," said the department manager of Chongqing Chenxi Import and Export Trade Co., Ltd. 

He added this mode is appropriate for varied, multi-batch, and small foreign trade transactions. It's a strategic move that can elevate our operational efficiency and market competitiveness.

To enhance trade capabilities, Dazu District has introduced the "Yucaitong" cross-border trade service platform. This digital solution offers comprehensive services like registration, cargo consolidation, cross-border logistics, and customs clearance,

The Yuxinou Highway Logistics Park. (Photo/ Chongqing Municipal Commission of Commerce)