SHANGHAI: Cross-border eCommerce is playing an increasingly vital role in stabilising China’s foreign trade and economic growth amid the recovery from Covid-19, even as the external environment continues to present headwinds.
Market observers attribute this trend to more and more Chinese vendors selling their products globally through cross-border eCommerce platforms.
As a new form of foreign trade, cross-border eCommerce has emerged as a key pathway to mitigate the impact of the pandemic on foreign trade. It is also encouraging traditional foreign trade enterprises to build new brands.
According to the latest data from US tech company Amazon, Chinese sellers sold billions worth of products, goods and commodities to global consumers through the company’s 18 overseas marketplaces in 2022.
The number of Chinese sellers who took advantage of Amazon’s logistics services increased by more than 20% year-on-year, with their sales revenue achieving double-digit growth.
The number of Chinese brand owners on Amazon surged nearly three times in the past three years, with their turnover posting double-digit growth last year.
Data from the General Administration of Customs showed that the import and export scale of the country’s cross-border eCommerce segment reached 2.11 trillion yuan (RM1.36 trillion) in 2022, an increase of 9.8%. eCommerce exports reached 1.55 trillion yuan (RM1 trillion) in the same year, up nearly 12%.In November, the country approved the establishment of comprehensive pilot zones for cross-border eCommerce in another 33 cities and regions. As its latest bid to boost foreign trade growth, this was the seventh batch of such pilot areas, which lifted their countrywide tally to 165. — China Daily/ANN
