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Foreign food firms bet on China
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Manufacturers and companies from home and abroad alike are keen to tap on the growing demand for imported food in China, Shanghai Daily learned at the SIAL China, an International food and beverage fair.
Shanghai-based Saohuo.com said it has received around 10 million yuan of investment earlier this year after teaming up with a number of overseas distributors to introduce imported food. It also plans to open offline membership stores with the next one or two years.
Investor Wang Zhenzhong said the platform aims to bridge the gap of imported goods vendors as well as consumers that are keen to try out new products at relatively low cost.
Trade volume of imported food in China added five times in the past ten years with the market value now worth US$100 million.
General manger of First Russian Cross-border Trading (Shanghai) Ltd Anna Barysheva said the company’s website, called Dakaitaowa.com, will be officially launched next month, and it aims to reach annual sales of US$200 million by 2018.
Russian Minister of Agriculture Alexander Tkachev told a press briefing during the International food and beverage fair SIAL China that it aims to attract more Russian exporters to sell through the platform not only food but also packaged products with higher profit margin.
“Overseas market is a priority for all kinds of businesses in Russia and our food exported to China has always been welcomed by Chinese consumers, and online shopping is a good channel for the government as well as consumers,” he said.
The Russian-funded company is registered in Shanghai’s pilot Free Trade Zone and it will also open a Hangzhou branch later this year to forge a closer relationship with local distributors.
The imported Russian goods would be distributed from bonded warehouses within China and it will also leverage existing online shopping platform such as JD.com and Albiaba’s Tmall to lift its influence and awareness among Chinese consumers.
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