30 Chinese seafood firms partner to open store in Yantai
Some 30 seafood firms in the processing hub of Yantai have formed a partnership to open a store in the city’s commercial district. The store will showcase their products as well as premium imported seafood products.
The new “Hui Yuan Zhi” store was organized by the local branch of the China Aquatic Processing and Marketing Association (CAPPMA), which is run by local government as well as the seafood committee of the China Chamber of Commerce.
“We are operating an online-to-offline model, we are getting help from Alibaba,” explained Qu Yan You, secretary general of the local CAPPMA.
Companies involved include major local processors like the hitherto export-focused Longkou SanMing and Yantai Jin Yang Food Co. A range of imported products on sale includes Norwegian salmon, Canadian coldwater shrimp and Argentinian red shrimp.
The shop represents a new turn in China’s domestic seafood sector, which has long been beset by price-based competition among homogenous small players.