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Corporate June 25, 2018 01:00

By The Nation

PLATFORM TO TRADE SECOND-HAND ITEMS



Aihuishou.com, one of China’s largest electronics recycling platforms, plans to build a global online marketplace for trading second-hand digital items, marking an initial move to make inroads into overseas markets. The Shanghai-based company will invest approximately $200 million (Bt6.6 billion) to develop the platform and push for global expansion, Chen Xuefeng, CEO of the Shanghai-based company, said at a recent news conference in Beijing.

“The company is looking for suitable investment targets in Indonesia, Thailand and the United States,” Chen said. So far, Aihuishou has already reached strategic cooperation with major trade markets for used digital products, such as Hong Kong, Dubai, Miami, India, Russia and Brazil. The platform, called Paijitang, could provide international sellers and buyers with improved services for second-hand electronic products such as disposal, standard rating and purchase, Chen said.

Earlier this year, Aihuishou made investments in Cashify, an Indian online marketplace for used smartphones and electronics, as well as Brazilian counterpart Trocafone.

These partnerships would enable these target companies to learn from Aihuishou’s cutting-edge technologies, and bring about operational efficiencies in their business, Chen said. – China Daily