American Merchandise Center To Open in China
The American Merchandise Center, a “merchandise mart” that will showcase American consumer products, including electronics, to Chinese merchandisers, is scheduled to open this October in the Chinese city of Yiwu, it was announced this week by the China Business Sources, which manages and markets for the center.
The center, located 180 miles southwest of Shanghai, is supported by the Chinese government, and its CEO, Colin Wu, formerly worked for the country’s foreign affairs ministry. Thirty companies have already signed up for the effort, which is aimed, the center said in a statement, to “facilitate the sale of American consumer products to mainland wholesalers and retailers.”
The three biggest reasons for the venture, the statement said, are the rising value of Chinese currency, Chinese awareness of the quality and safety issues surrounding Chinese-made products, and “changing spending habits among China’s traditionally thrifty middle class.”