Why is cross-border e-commerce the focus of new foreign trade?

When it comes to new forms of foreign trade, cross-border e-commerce is an important content that can not be avoided. And supporting the reasonable development of cross-border e-commerce has been written in the government work report for seven times.

As in the report on the work of the government published in March this year, it is clear that: to implement high-level opening-up to the outside world, and to promote the stability of foreign investment and improve quality. We will open wider to the outside world and participate in international economic cooperation. We will stabilize processing trade, develop new business models such as cross-border e-commerce, and support enterprises to develop diversified markets

“Cross border e-commerce is the main content of new forms of foreign trade. The vigorous development of cross-border e-commerce in China, especially during the epidemic, plays an important role in stabilizing the growth of China’s foreign trade. ” Said sang Bachuan.

There is a real data support behind such evaluation. According to data released by the Ministry of Commerce, China’s cross-border e-commerce retail exports still increased 17 per cent year on year in January September 2020, when the epidemic was relatively severe.

The economic dividends from cross-border e-commerce are far more than that. A recent study report on “going to sea” of B2C cross-border e-commerce platform (hereinafter referred to as the report) issued by global think tanks obtained by Red Star News reporters shows that in 2019, the scale of China’s cross-border e-commerce market is 10.5 trillion yuan, an increase of 16.7% year-on-year, accounting for about 33% of China’s total import and export value. Among them, the scale of cross-border e-commerce export transactions was 8.03 trillion yuan, an increase of 13.1% year-on-year, accounting for 46.7% of the export ratio.

According to the statistics of the United Nations Conference on Trade and development (UNCTAD), China and the United States were the first and second largest export economies of B2C cross-border e-commerce in 2018, accounting for 45.8% of the total sales of B2C cross-border e-commerce in the world.

“Novel coronavirus pneumonia epidemic has not changed the trend of cross-border e-commerce development in the past year or so, although it has had some impact, it has less impact on B2C cross-border electricity providers than B2B cross-border electricity suppliers, and even brought new opportunities to B2C cross-border electricity providers.”

The above report shows novel coronavirus pneumonia pandemic has forced people to change their shopping habits, and has strengthened the B2C consumer habits and promoted the further development of B2C cross-border e-commerce business. According to the data analysis report of e-commerce industry issued by aimedia.com, the data shows that the total import and export of cross-border e-commerce in China reached 18.21 billion yuan in 2019, an increase of 38.3% year-on-year, of which the total retail export was 94.4 billion yuan.

Based on the above achievements, the standing meeting of the State Council also made clear that the policy of supporting cross-border e-commerce development should be improved. Expand the pilot scope of cross-border e-commerce comprehensive pilot zone. Promote the upgrading of foreign trade and foster new competitive advantages.

Post time: Jun-25-2021