An online platform will be helpful in upgrading Beijing’s traditional wholesale markets amid an industrial slowdown, according to industrial insiders. “Traditional wholesale markets are facing a great challenge as business began slowing down due to out-dated business models,” said Li Hua, president of the Guangzhou-based Zhenhai Science and Technology Co…Full Article: ECNS.cn Sept 2016

Key Point

  • Over the past few years, the number of buyers visiting Beijing’s ~1,000 wholesale markets has decreased from approximately 50,000 buyers per day to 10,000. This comes as Beijing pushes wholesale markets to neighboring areas as part of a plan to modernize the city’s wholesale markets.

ChinaAg Comments

  • In October 2015, Xinfadi (Beijing wholesaler) opened its first wholesale market in Hebei Province. The new wholesale market will cover 138 ha and have 1.4 million sq. meters of cold storage and trading areas (~4,000 registered wholesalers). According to the Deputy Manager of Xinfadi’s Gaobeidian Branch, as of Oct 2015, representatives from 34 supermarkets have visited the Gaobeidian wholesale market.
  • Founded in 2008 and headquartered in Guangzhou, Guangdong Province, Zhenhai Science and Technology owns ZhenHaiPiFa.com, an online wholesale market website that was launched in 2014.
  • Founded in 1988 and headquartered in Beijing, Xinfadi is Beijing’s largest wholesaler of agricultural products including fresh fruits, vegetables, meat, and seafood. The company’s wholesale markets are primarily located in southern Beijing and are used to supply the capital city.

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