Tianjin announces plan to build 10 wholesale markets

Tianjin has announced an ambitious target to build 10 wholesale markets by 2025 that would each have an annual sales volume of up to 10 billion yuan ($1.62 billion), adding that two of those markets will notch up annual sales of 100 billion yuan each.

The city in northern China is currently helping upgrade the infrastructure and facilities of wholesale markets in the suburbs of Hongqi, Jinzhong and Hanjiashu, a plan released by the city's bureau of commerce said.

It said the upgrading has begun in some agricultural wholesale markets to boost their e-commerce capabilities, along with the combination of commercialization and production and development in cold-chain logistics.