Chinese commodity website launches Hungary operation

Yiwubuy, the website of the world's biggest small commodity market, had launched a Hungary operation (hu.yiwubuy.com), general manager Wang Jianjun announced Monday.

YiwuBuy belongs to Zhejiang China Commodity City Group, which manages the Yiwu Small Commodity Wholesale Market, the world's largest of its kind, in China's eastern Zhejiang province.

Wang told a press conference the Hungary website, which uses three languages -- Hungarian, English and Chinese, will try to find local partners and provide convenience for foreign buyers of Chinese small commodities.

He explained the new website would enable orders placed by local buyers to be handled by YiwuBuy's local partners, including confirmation, payment, inspection, and customs clearance.

Wang said YiwuBuy would also build a credit transaction guarantee system.

YiwuBuy has e-stores for all the 70,000 shops in the Yiwu Small Commodity Wholesale Market on its website, with a unique 360-degree panoramic display that gives visitors a feeling of physical shopping.