Yiwu Fair has been held for 13 successive years since 1995. It is held in Yiwu, Zhejiang Province in October every year. In 2002, it was upgraded as an international commodity fair. Since then, the event has been jointly sponsored by the Ministry of Commerce, Zhejiang Provincial People's Government and other relevant authorities.

The Yiwu Fair, as a highly internationalized and informative event with excellent services and security, has become one of the largest, most influential and most productive commodities fairs in China. It has become the third largest exhibition sponsored by the Chinese Ministry of Commerce, ranking only next to the China Import and Export Fair in Guangzhou and the East China Fair in Shanghai.

The Fair was honored as China's Best Managed Exhibition in 2005, one of the 2006 Top Ten Exhibitions in China, China's Best-outcome Exhibition in 2006, and the 2007 Top Quality Exhibition in Yangtze River.