(Yicai Global) May 24 -- The 2019 Yiwu Imported Commodities Fair used fifth-generation networks to live stream the exhibition online and conduct sales for the first time.

Hongdoujiao, a live-streaming e-commerce platform under Chinese telecoms giant China Telecom, was in charge of broadcasting the event. The stream lasted 24 hours, during which users were able to 'visit' the exhibition with zoomable 360-degree panoramic views.

Some 1,000 corporate exhibitors are in attendance this year, hiring the likes of lifestyle platform Xiaohongshu, short video app Tik Tok and Tencent to help them conduct precision marketing at the event.

Yiwu is home to the world's largest wholesale market for small commodities and its products are exported to over 200 countries and regions. The city has been looking to optimize its inboud trade in recent years and day-to-day goods have become one of the biggest import categories.

The total value of Yiwu's imports tallied CNY2.3 billion (USD325 million) from January through April, two and a half times more than the same period a year earlier, as web-based platforms started to play a more important role in sales channels.

Editors: Chen Juan, James Boynton