Media365
Zhejiang China Commodities City Group, operator of the marketplace that was once the epicentre of global consumer goods trading, is planning an initial public offering (IPO) in Hong Kong to support overseas expansion, as the wave of mainland Chinese firms looking to raise funds in the city continues.
The state-owned company, which runs the Yiwu international trade market in east China’s Zhejiang province, said in a filing to the Shanghai Stock Exchange on Wednesday that a share sale in Hong Kong would mark a milestone for its global ambitions as it lured more overseas talent to strengthen core competence.
The Hong Kong listing plan was announced after the company reported a net profit of 4.2 billion yuan (US$614.4 million) for 2025, up 36.8 per cent from a year earlier. Revenue jumped 26.6 per cent to 19.9 billion yuan.
China Commodities City did not reveal target fundraising or a time frame for the IPO, but noted that the deal would be subject to the approval of shareholders and regulators.
“Industry champions like the Yiwu commodity market operator set their sights on the Hong Kong exchange to drive their expansion abroad,” said Wang Feng, chairman of Shanghai-based financial services group Ye Lang Capital. “Yiwu’s commodity market represents a trademark for China’s consumer goods and a Hong Kong listing will eventually help Chinese manufacturers better promote their products worldwide.”
