China’s ATRenew has big plans for Hong Kong’s little-known phone trading hub

New York-listed firm aims to modernise the city’s opaque wholesale market, which sits at the centre of a vast global network for used devices China’s largest second-hand electronics platform, ATRenew, plans to use its technology and trading standards to modernise Hong Kong’s huge wholesale market for pre-owned devices, as it seeks to make the city a springboard for its global expansion. The New York-listed company on Tuesday launched FoneSquare – a cross-border business-to-business online marketplace for used electronics – as well as ReRe, a new consumer brand making its debut with a store in Hong Kong. While the bricks-and-mortar outlet will test demand for certified second-hand products in Hong Kong, executives said the wholesale platform would be central to the group’s international growth strategy. “We’ve already proven the model in what is probably the world’s most complex second-hand electronics market,” Ji said, adding the company had built a mature sourcing network, merchant ecosystem, automated inspection system and unified grading standards. Hong Kong is ATRenew’s first stop because it already sits at the heart of the global used-phone trade, according to the company.

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