Beckoned by enormous business opportunities and many favorable policies at the Taiwan Commodity Market in Pingtan county, Fujian province, Fujian Suning Commercial and Trading Co Ltd has decided to settle in.

The company became the first of its kind to agree to move into the core business zone of the market. It will get five shop slots on the first floor and the whole second floor of the No.29 building, with a combined business area of nearly 1,500 square meters.

It will engage in sales of Taiwan’s farm and sideline products, daily commodities, cosme-ceuticals and health products, and is slated to open for business this summer.

Suning started eyeing the market as early as in November and was optimistic about the potential of the market as well as Pingtan’s piloting cross-border e-commerce with Taiwan. It reached partnership deals with many of Taiwan’s famous enterprises to introduce their products at the market, said a business director of the company.

Physical stores at the commodity market will only serve as a springboard for the company, which plans to expand the sales network of Taiwan’s special products to the whole country via e-commerce programs, he added.

The core business zone at the commodity market is expected to open by October. Applications for booths are continuing to come in, according to a manager responsible for the market’s investment promotion.

Background:

The Taiwan Commodity Market is situated in Aoqian town and takes up about 160,000 square meters.

It is composed of 38 folk dwellings in the Minnan style, which are divided into a duty-free zone, a non-duty free zone and a support functional zone.

Only one duty-free shopping mall in the No.1 Building was open as of June 15. The rest will open in stages.

A favorable tax policy is in effect at the commodity market, which was granted tax exemptions by the Ministry of Finance on six categories of Taiwan goods: oil and grain products, farm products, textiles and garment, artware, light industrial products and medicine.

The daily cap for commodities per person is 6,000 yuan ($960). Purchasing records of individuals will be tracked, and if the sum exceeds the 6,000-threshold, both customers and merchants will be notified to pay the tax.