China's medium and large-sized commodity trading markets have accelerated their expansion to the central and western China from the coastal provinces in recent years, due to slowing economic growth, excessive investment and market saturation, according to a recent report released by the Commodity Market Special Committee of China General Chamber of Commerce.
Under the circumstances of slowing economic growth in China, the commodity trading markets also face many problems, such as fall in transactions, blind expansion, fewer brand merchants, and insufficient attraction to customers, said the report. In order to cope with challenges, many professional enterprises have shifted their attention to the western China and the commodity trading markets have also speeded up westward expansion from the coastal provinces where demand has been saturated.
They also want to seize the country's "Belt and Road" strategy to explore potential opportunities, said Jiang Ming, President of China General Chamber of Commerce.
Latest comments