Chinese dry goods market has reached a record $1bn in value, according to the leading wholesale manufacturer, which also includes one of the world’s biggest producers of dry goods.
The wholesale market for dry goods and accessories hit a record of $2.2bn in March, according the Hong Kong-based wholesale manufacturer International Container Market, which includes the country’s biggest dry goods exporter, Chinese firm Dongfeng Group.
The annual market for Chinese dry products, which include food, paper and household goods, grew to $2,500bn last year from $1,600bn in 2008, the report said.
Dongfeng is China’s biggest retailer and wholesale marketer of dry items.
Its global wholesale business, worth $2tn, has also seen growth this year, growing 8.5 per cent to $5.4tn, the firm said.
China’s government is keen to boost its economy, but has been trying to avoid creating a domestic market in its second-largest city by keeping it small.
The government has said it wants to focus on its overseas markets, including in Asia.