Nanyang is to build an international food trade center to bring together famous food brands from around the global, bolstering itself as a benchmark in food industry and promoting the development of the surrounding areas in warehousing, catering and entertainment.

The launch ceremony was held on Oct 19, hosted by Zhang Yaming, vice director of the New-energy Economic and Technological Development Zone Administrative Committee.

Covering an area of 200 mu (13 hectares), the trade center cost 1.6 billion yuan ($241 million) and is able to accommodate more than 1,000 stores in relation to non-staple foodstuffs, grain and oil, beverages, kitchen ware and washings products.

It is the first modern comprehensive trade center of its kind in Nanyang, and integrates wholesale, retail, logistics, e-commerce, hotels and offices, at the service of surrounding provinces and even Southwest China.

Upon completion, it is expected to realize an annual turnover of 10 billion yuan, tax revenue of 500 million yuan, while providing jobs for more than 10,000 local residents.