Business Buzz: China's Next Economic Opportunity – Becoming the 'Super Factory' for the Muslim World

Yiwu, a Chinese city long renowned for supplying low-cost goods, now sees its wholesale markets offering prayer rugs, Quran stands, Muslim attire, Ramadan lanterns, and crescent-shaped decorations. Chinese exporters are making significant strides into the Islamic world.

According to data from research firm DinarStandard, in 2023, China exported $32.5 billion worth of halal-related food, clothing, pharmaceuticals, cosmetics, and other products to the 57 member states of the Organization of Islamic Cooperation (OIC), surpassing India and Brazil to become the largest supplier to the bloc.

Global Muslim demand is also rising. According to DinarStandard’s latest report, "State of the Global Islamic Economy," Muslim consumer spending across sectors such as food, fashion, pharmaceuticals, cosmetics, media, and travel reached $2.6 trillion in 2024. This figure is projected to grow to $3.56 trillion by 2029. The global Muslim fashion market alone is valued at $347 billion.

A key challenge remains: sellers must prove their products are genuinely halal. Currently, there is no unified global halal certification standard. While China has several regional standards and certification bodies, it lacks a national-level unified halal certification system. If this hurdle can be overcome, the Islamic world could become a major new growth engine for China’s economy.

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