From Traditional Medicine to Modern Markets: The Economic Development
of the Xinhui Chenpi Industry

Bingzhang Lei

doi:10.46609/IJSSER.2026.v11i06.017

Title: From Traditional Medicine to Modern Markets: The Economic Development of the Xinhui Chenpi Industry
Authors: Bingzhang Lei
Journal: International Journal of Social Science and Economic Research (IJSSER) ISSN: 2455-8834 Volume: 11 Issue: 6 Publication Date: June 2026 DOI: 10.46609/IJSSER.2026.v11i06.017
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Bingzhang Lei Student at Huafu International Department, Guangzhou, China
MLA 8 Lei, Bingzhang. "From Traditional Medicine to Modern Markets: The Economic Development of the Xinhui Chenpi Industry." Int. j. of Social Science and Economic Research, vol. 11, no. 6, June 2026, pp. 2714-2729, doi.org/10.46609/IJSSER.2026.v11i06.017. Accessed June 2026. APA 6 Lei, B. (2026, June). From Traditional Medicine to Modern Markets: The Economic Development of the Xinhui Chenpi Industry. Int. j. of Social Science and Economic Research, 11(6), 2714-2729. Retrieved from https://doi.org/10.46609/IJSSER.2026.v11i06.017 Chicago Lei, Bingzhang. "From Traditional Medicine to Modern Markets: The Economic Development of the Xinhui Chenpi Industry." Int. j. of Social Science and Economic Research 11, no. 6 (June 2026), 2714-2729. Accessed June, 2026. https://doi.org/10.46609/IJSSER.2026.v11i06.017.
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ABSTRACT: Xinhui Chenpi is a highly sought after agricultural product with its medicinal properties and economic value, therefore there is an immediate need for more research into its pricing and pricing volatility. Existing agricultural economic research mainly concentrates on commonly fresh agricultural products and commodity staples, placing particular emphasis only on basic supply and demand relationships. However, little research has been conducted regarding price volatility differentials for storable products that gain value with age such as Xinhui Chenpi, and the internal indicators of quality that contribute to a product's overall market performance. This research study attempts to address this gap in the research by systematically evaluating the expansion pattern, tiered pricing structure, and volatility of Xinhui Chenpi and developing a financial decision matrix for industrial pricing and production based on the determination of product's quality. The quantitative results show that ultra-aged and branded versions of this product have a higher rate of market volatility as compared to medium aged products and the aggregate quality of the product is determined primarily based upon the storage conditions, aroma profile, and changes in active ingredients. By contributing to the agricultural economics literature, this research provides additional clarification to the empirical evidence on these products. From a practical standpoint, the existing quality decision matrix offers practical operational guidelines and predictability in regards to market speculation risks, helping to create uniformity for the entire length of the industry value chain, and supports the sustainable and high-quality growth of the Xinhui Chenpi industry.

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