Beijing has invested four billion yuan ($588 million) to build a new wholesale produce market in its southeastern suburbs. The new market will complement Xinfadi, the capital’s largest produce market, located in southern Beijing…Full Article: China Daily July 2017

Key Point

  • Beijing’s Xinfadi wholesale market supplies 70% of the city’s vegetables.

ChinaAg Comments

  • In February 2017, CNY 1.5 billion (USD 220 million) worth of renovations began on Beijing’s Xinfadi wholesale market. The new marketplace (5 floors) is expected to be completed in 2018 and operational by 2019.
  • In September 2016, it was reported that 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 occurred as Beijing pushed wholesale markets to neighboring areas as part of a plan to modernize the city’s wholesale markets.
  • 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, an online wholesale market website that was launched in 2014. In September 2016, it was noted that the company was helping Beijing wholesale markets “go digital”.
  • 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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