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Meet Yu Donglai, founder of China’s viral supermarket chain and guest of Premier Li Qiang
Yu’s company has caught the public’s attention for its business practices and high-quality goods
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Zhu Wenqianin BeijingPublished: 4:00pm, 25 Jul 2026Yu Donglai, founder of viral local supermarket chain Pangdonglai, became a star addition to a recent high-level economic symposium chaired by Chinese Premier Li Qiang, where economists and leading entrepreneurs gathered to discuss the country’s economic outlook.The retailer, headquartered in Xuchang, a small city in central China’s Henan province, has yet to expand its stores beyond the province. Despite an overall consumption slowdown in China and fierce competition from e-commerce platforms, Pangdonglai stands out as a key performer in the consumer market.
Pangdonglai is often hailed as China’s answer to Sam’s Club, a US warehouse retailer owned by Walmart, due to its high-quality goods, in particular fresh produce. Unlike Sam’s membership-only model, Pangdonglai offers single-item purchasing and does not charge membership fees.
At the July 13 forum, the 60-year-old Yu represented the retail and consumer sectors and delivered remarks. Other participants included the president of Sinopec, the head of Sugon, a state-backed server maker, the president of Shandong Heavy Industry Group and a panel of economists.
“Very few commercial firms participated in the forum to offer suggestions. This reflects the government’s focus on boosting consumption and domestic demand,” said Tang Dajie, a senior researcher at the China Enterprise Institute, a Beijing-based think tank.
Tang said Pangdonglai represents an innovative governance model for private enterprises, though its reach is restrained by geographical limits. He added the firm emphasizes humane and flexible management, unlike traditional companies prioritising branding, profits and logistics.
“This shows that the government values innovative corporate governance models, sending a relatively open-minded policy signal,” he added.
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