Commodity City (commonly known as Yiwu Commodity Wholesale Market) is located in Yiwu City, central Zhejiang Province. It was founded in 1982 and is one of the earliest professional markets in China. Over the past 20 years, after four relocations and eight expansions, Yiwu Small Commodity Wholesale Market now has a business area of more than 2.6 million square meters, more than 50,000 business places, 200,000 employees and a daily passenger flow of more than 200,000 people. In 2005, the total turnover of the market reached 28.8 billion yuan, of which foreign trade accounted for more than 60%, ranking first in the national industrial wholesale market for 15 consecutive years, and was awarded by the General Administration of Quality Supervision, Inspection and Quarantine.