On May 27, 2015, 12:23 PM FoxconnMall launches as a B2B site for industrial products and materials. Foxconn Technology Group, presents products across 16 categories, from finished products to manufacturing molds and chemicals, is also known as a leader in China’s business-to-business e-commerce arena in terms of the total volume of products and materials bought and sold online. Foxconn, the trade name for Hon Hai Precision Industry Co., launched FoxconnMall as an online marketplace where buyers can research, compare and purchase products, materials and services from multiple China-based suppliers, according to a report issued by China’s Central News Agency. FoxconnMall is presenting products, materials and services across 16 categories, including equipment used in manufacturing processes, molds and parts used in fabricating products, and chemicals and other materials. Services available on the marketplace include engineering, financial and insurance. The marketplace also provides sellers with the ability to display products with 3D-rendered images. FoxconnMall will be operated by a new Hon Hai subsidiary based in Shenzhen, a city near Hong Kong. Foxconn has already been cited by China’s National Bureau of Statistics as the country’s largest in the value of total e-commerce transactions, including what it has purchased and sold online. The most recent figures from the National Bureau of Statistics noted that Foxconn subsidiary Futaihua Industrial (Shenzhen) Co., booked 349.2 billion yuan (US$57.58 billion) in transactions in 2012.