Semmaris, the management company behind the world-renowned International Market of Rungis in Paris, has forged a joint venture with Shenzhen Agricultural Products Co, a leading Chinese company engaged in the production and processing of agricultural products and the establishment of wholesale markets in China.
The new entity – to be known as Shanghai Rungis Market Management – will oversee the development, construction, operation and management of new wholesale agricultural produce markets in China, according to a press release from law firm Gide Loyrette Nouel, which assisted Semmaris in the negotiations and incorporation of the joint venture.
Shanghai Rungis Market Management will operate its first market in Nanning, the capital city of the southern province of Guangxi.
The joint venture enables Semmaris to secure entry to the Chinese wholesale food market and it is expected to facilitate more trade between French and Chinese food producers and wholesalers.
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