Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
SMIC Profits Soar to $138m in Second Quarter
Foldable Phone-Maker Plans Shenzhen IPO, Dispelling Rumors of U.S. Listing
Astra Inks Oxford Vaccine Production Deal with China’s Kangtai
Trending Story: Are Any New Graduates Really Worth 2 Million Yuan a Year? Netizens Discuss!
Trending in China: Popcorn or Cheaper Tickets - What Would Make You Return to the Cinema?
Tesla Challenger Xpeng Raises $400 Million Before Planned U.S. IPO
CATL Announces it Will Supply Batteries for Mercedes-Benz New Electric Sedan
TikTok Sees No Slowdown in Global Popularity Despite Indian Ban and U.S. Threats
Baidu Search, Sina Weibo on ‘Secret List’ of Chinese Apps Banned in India’s Latest Purge
Trending in China: Choosing a College Major - For Love or Money?
Evergrande Health Forges Ahead With Six New Electric Vehicles
Trending in China: How Cute Rabbit Ears Are On the Frontline in Fight Between Delivery Firms
Chinese Company Files Lawsuit Against Apple’s Siri for Patent Infringement Worth Billions
China Home to Six of the World’s Top 10 Unicorns, Hurun Report Says
Trending in China: Can Music Streamers Help Users’ Depression?
Core Parts of China’s Beidou Satellite System ‘100% Made in China’
Trending in China: Xiaomi CEO’s Shows How Best To Harness China’s Social Media Humor for Serious Business
Apple Takes Down Over 30,000 Apps from China Store Amid Government Crackdown
Chinese Chipmaker SMIC to Establish Joint Venture for Wafer Production
Microsoft Said Plan to Acquire TikTok Will Continue
Marubeni Taps China’s Nascent Refrigerated Transport Market With G7 Deal

By Huang Rong and Zhao Runhua / Jun 26, 2019 03:45 PM / Business & Tech

A worker moves imported fresh meat in a refrigerated warehouse in Tianjin, on Jan. 26, 2013. Photo: VCG

A worker moves imported fresh meat in a refrigerated warehouse in Tianjin, on Jan. 26, 2013. Photo: VCG

Japanese conglomerate Marubeni Corp. will set up a refrigerated transport joint venture with G7, a Chinese logistics management platform, the companies announced Tuesday.

G7, which uses internet-of-things technology to track and dispatch delivery vehicles, will jointly set up Jihong Finance Leasing with Marubeni to lease refrigerated trailers in China and provide financial services related to cold-chain transport. Marubeni will provide the capital and fleet management services, while G7 will conduct research and development on the trailers and operate the fleet, G7 said.

Marubeni said it hopes to tap China’s potential as a cold-chain transport market. Only 50% of China’s aquaculture products — such as fish and seafood — are currently delivered by refrigerated transportation, compared to over 95% in developed markets like Europe and Japan, a Marubeni executive told Caixin.

The joint venture will be based in Tianjin, a port city near Beijing. Tianjin is a key transportation hub and is close to key agricultural commodity trading markets in northern China.

Chinese consumers’ increasing demand for fresh food will lead to nearly 20% annual growth in local cold-chain markets, Marubeni said.

Related: Japanese Companies Should Tap Into China’s Opening-Up Policy: Zhou Xiaochuan

Share this article
Open WeChat and scan the QR code