Large Commodity Trading Markets Booming in China

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Last updated at: (Beijing Time) Thursday, September 11, 2003

Large Commodity Trading Markets Booming in China

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Large commodity trading markets are thriving in China and 3,259 lifted their yearly volume of trade over 100 million yuan (12.1 million US dollars) by the end of 2002, among which 414 trading markets exceeded 1 billion yuan (121 million US dollars).

According to the China General Chamber of Commerce (CGCC), 70 were newcomers in 2002, and three registered an annual turnover of 20 billion yuan (242 million dollars) or more.

These large trading markets engaged in wholesale and retail businesses are becoming increasingly specialized, in the fields of furniture, building and decoration materials, general merchandise and aquatic products, the CGCC said.

The boom of large trading market across the country has contributed to the smooth flow of vegetables and fruit from south to north and west to east and promoted the country's commercialization of agricultural products.

However, the CGCC said that these large trading markets are not evenly spread, with 70 percent of agricultural commodity trading markets located in the east of China, leaving only seven percent in the west, the production center for animal husbandry.

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