Study On Development Courses Of Hangzhou Sijiqing Clothing Specialized Market From The Perspective Of Transaction Cost

Hangzhou Sijiqing Clothing Specialized Market was founded in October1989. It isone of the Top Ten Clothing Specialized Market, is also one of China’s most influentialClothing Wholesales and Circulation Markets. China has the population of1.3billion;and a Piece of Clothes per capita is from Sijiqing. The Management Committee ofSijiqing Clothing Wholesale Market has used this figure to reflect the influence ofSijiqing Clothing Specialized Market. The past only four acres used parking candevelop into the Specialized Market which enjoys a reputation with “First Street ofChinese clothing”. It must be said that it’s a miracle.As one of the Institutional Innovation, the Specialized Market has the greatestinfluence in the field of Commodity Circulation since the Reform and Opening. Thisimportant circulation way has had a profound influence on the development of China’sEconomy and Society. However, the concerns about the future of the SpecializedMarket are common. Many scholars are pessimistic about the prospects of theSpecialized Market, and they are just seeing it as a way of trading in the Pre-industrialand initial stage of industrialization. In addition, there are some scholars are optimismabout the prospects of the Specialized Market. They think that the Specialized Marketfaces a new opportunity for its development since the new era. Internationalization andthe advent of the Knowledge Economy and Information Technology will provide a newimpetus to develop the specialized market, and contribute to the transformation andupgrading of the traditional Specialized Market.I endorse the latter viewpoints. Consequently, this paper analyses HangzhouSijiqing Clothing Specialized Market as a microcosmic Economic Organization in thePerspective of Transaction. It draws the development courses and prospects, attemptingto explain the specialized market can be avoided "wither away". Firstly, the papersimply summarized the development process of the Transaction. And then, itspecifically addressed the development of the various stages of the Hangzhou SijiqingClothing Specialized Market. Finally, it concluded that E-commerce and ModernLogistics are new impetuses of development of Sijiqing Clothing Specialized Market.Because they can not only improve transaction efficiency, reduce transaction costs, butalso ensure its sustainable development.