Amazon's Tai underlined that China’s imports and exports have played an important role in supporting economic growth, showing strong resilience amid external challenges and uncertainties. — AFP
SHANGHAI: Cross-border eCommerce has played an increasingly important role in stabilising China’s foreign trade and provided a new way for micro, small and medium enterprises and entrepreneurs to expand their footprint in overseas markets, say experts.
Cindy Tai, vice-president of Amazon and head of Amazon Global Selling Asia, said the country’s accelerated efforts to push the digital transformation of traditional industries and small and medium enterprises have brought confidence to the steady and high-quality development of China’s foreign trade.
Tai underlined that China’s imports and exports have played an important role in supporting economic growth, showing strong resilience amid external challenges and uncertainties.
This year’s government work report said the country has developed new forms of foreign trade, built 152 new integrated pilot zones for cross-border eCommerce, and supported the establishment of overseas warehouses in the past five years.
The latest data from Amazon showed that Chinese vendors sold billions of commodities to global consumers through the company’s 18 overseas marketplaces last year. The number of Chinese sellers using Amazon’s logistics services rose by more than 20% year-on-year and sales revenue achieved 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 in 2022.
Meanwhile, Chinese sellers have shown diversification trends in terms of merchandise categories and technological innovation as well as brand and business types.
Tai said Amazon would provide Chinese sellers with comprehensive and reliable logistics, inventory and supply chain solutions based on its global logistics capabilities and network advantages, to help them achieve long-term, sustainable growth and enhance global operational efficiency.
According to the General Administration of Customs, the import and export scale of the nation’s cross-border eCommerce reached 2.11 trillion yuan (RM1.38 trillion) last year, a year-on-year rise of 9.8%. Exports of eCommerce stood at 1.55 trillion yuan (RM1 trillion), up by nearly 12%.
In November, approval was granted for the establishment of comprehensive pilot zones for cross-border eCommerce in 33 cities and regions in the latest attempt to boost foreign trade growth. — China Daily/ANN
