Malaysia’s Aladdin Street is tapping into the vast halal market of China with the launch of the first syariah-compliant e-marketplace in the country.
Like other e-commerce platforms of the company, www.aladdinstreet.com.cn sells halal groceries and products, as well as those that do not require halal certificates.
Among the items are food stuffs, cosmetics, healthcare and skincare products.
Minister in the Prime Minister’s Department Datuk Seri Dr Wee Ka Siong, who launched the e-marketplace here yesterday, said the halal industry, which is gaining speed globally, would be the next wave to shake the e-commerce sector.
He said that cross-border e-commerce has huge potential to grow, and added that the industry recorded a growth of some 30% annually in China, with total retail sales of more than 3.02 trillion yuan (RM1.95 trillion) from December 2016 to May this year.
“In the first quarter of this year, Chinese consumers spent over 1.4 trillion yuan (RM900bil) on online shopping, more than double the amount that was spent in the US,” he said when addressing an audience at the Suzhou International Expo Centre.
Dr Wee said due to its high birth rate, the Muslim world is the fastest growing community, making up 25% of the world’s population.
So, the halal industry could prove to be the next emerging sector with huge opportunities, he added.
“By 2030, the total purchasing power of Muslims in the South-east Asia region will hit more than US$298.9bil (RM1.2 trillion).
“Halal products not only attract Muslims as non-Muslims are also interested in them, so the growth of this industry is immeasurable,” he added.
Also present at the opening ceremony were Malaysian Ambassador to China Datuk Zainuddin Yahya, Aladdin Street co-founder Datuk Dr Sheikh Muszaphar Shukor and Aladdin Street China chairman Kenneth Lee.
Dr Sheikh Muszaphar said the company aimed to capture the Chinese market of 1.3 billion people, of whom more than 25 million are Muslims.
“This is a platform for Chinese consumers to purchase halal-certified products curated from all over the world and for manufacturers and vendors to export their products worldwide,” he added.
Earlier, Dr Wee also briefed an audience on business and investment opportunities in Malaysia at the forum titled “Belt and Road Business Exploration” at the same venue.