The launch of a new brand for the annual Chinese New Year rush drew a record turnout of buyers and frenetic sales for a leading Chinese government fishery firm.
The launch of the “Yuan Yang”’ brand by Liaoning Province Dalian Ocean Fishery Group Corp’s (commonly known as Liaoyu) was held recently at a gala ceremony, which also featured refrigerators full of product and staff showing off new packaging while taking orders from the large attendance of trade and hospitality buyers.
Top-selling species, according to company vice president Yang Wei Xin, were grouper from Taiwan, Greenland flatfish and snow crab from Alaska. Also among the top sellers: red shrimp from Argentina and “pink prawns” from Mozambique.
Chinese consumer demand for imported seafood for the New Year celebration (which falls on 31 January) means the firm was able to lock in a record number of orders for large stocks assembled in company warehouses, Yang told Liaoning provincial TV – the channel also showed one customer taking bricks of CNY 100 (USD 14.50 , EUR 13.66) bank notes out of a shopping bag to pay for his purchases at a crowded cash register set up for the sales event.
Fully state-owned, the Liaoyu Group spent its early years catching and processing pelagics for the export market. But in a wealthier China (with a stronger currency and higher labor costs), the firm has eyed the domestic market, increasingly seeking to import higher-value seafood. The company has also sought to expand the export and local markets for squid and tuna from its processing plants. It has invested over RMB 100 million (USD 14.5 million, EUR 13.7 million) in the last five years on expanding its tuna, mackerel and squid processing lines. Liaoyu has also built a fleet to target Antarctic krill fisheries.
With a staff of 5,000 and fleets operating globally, Liaoyu says it has an annual catch of 300,000 metric tons (MT), processing of 75,000 MT and exports of 50,000 MT per year. According to the records of the state-owned Assets Supervision and Administration Commission, the company has annual sales of more than USD 50 million (EUR 47.2 million).
Firm targets Chinese New Year rush with new brand
The launch of a new brand for the annual Chinese New Year rush drew a record turnout of buyers and “frenetic” sales for a leading Chinese government fishery firm.
The launch of the “Yuan Yang”’ brand by Liaoning Province Dalian Ocean Fishery Group Corp’s (commonly known as Liaoyu) was held recently at a gala ceremony, which also featured refrigerators full of product and staff showing off new packaging while taking orders from the large attendance of trade and hospitality buyers.
Top-selling species, according to company vice president Yang Wei Xin, were grouper from Taiwan, Greenland flatfish and snow crab from Alaska. Also among the top sellers: red shrimp from Argentina and “pink prawns” from Mozambique.
Chinese consumer demand for imported seafood for the New Year celebration (which falls on 31 January) means the firm was able to lock in a record number of orders for large stocks assembled in company warehouses, Yang told Liaoning provincial TV – the channel also showed one customer taking bricks of CNY 100 (USD 14.50 , EUR 13.66) bank notes out of a shopping bag to pay for his purchases at a crowded cash register set up for the sales event.
Fully state-owned, the Liaoyu Group spent its early years catching and processing pelagics for the export market. But in a wealthier China (with a stronger currency and higher labor costs), the firm has eyed the domestic market, increasingly seeking to import higher-value seafood. The company has also sought to expand the export and local markets for squid and tuna from its processing plants. It has invested over RMB 100 million (USD 14.5 million, EUR 13.7 million) in the last five years on expanding its tuna, mackerel and squid processing lines. Liaoyu has also built a fleet to target Antarctic krill fisheries.
With a staff of 5,000 and fleets operating globally, Liaoyu says it has an annual catch of 300,000 metric tons (MT), processing of 75,000 MT and exports of 50,000 MT per year. According to the records of the state-owned Assets Supervision and Administration Commission, the company has annual sales of more than USD 50 million (EUR 47.2 million).
