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Cross-Border E-Commerce Shrinks Trade Hurdles, Chinese Vice Minister Says
Zhang Yushuo
DATE:  May 20 2022
/ SOURCE:  Yicai
Cross-Border E-Commerce Shrinks Trade Hurdles, Chinese Vice Minister Says Cross-Border E-Commerce Shrinks Trade Hurdles, Chinese Vice Minister Says

(Yicai Global) May 20 -- A vice commerce minister of China has applauded cross-border e-commerce companies for lowering international trade thresholds.

A host of Chinese micro and small enterprises have become pioneers in cross-border e-commerce by making use of online technologies and finding opportunities in the advancing digital economy in recent years, Sheng Qiuping said at a press conference today.

The Covid-19 pandemic has prompted more shoppers around the world to go online. And Chinese sellers are ready to serve. More than 30,000 firms have registered on China's pilot service platform for cross-border e-commerce. Still, the trend has been upward for a while. Over the past five years, China's related imports and exports increased by nearly 11 times to reach CNY1.92 trillion (USD287.4 billion) last year.

Cross-border e-commerce is breaking free from time and space constraints, said Sheng. It reduces intermediate trade links and solves the problem of information mismatch between supply and demand, he added. China has signed a memorandum of understanding with 23 countries to cooperate on online shopping regulations.

In turn, digital marketplaces have been enriching domestic buyers' shopping options. In recent years, various countries' ambassadors to China have actively promoted local products via live-streaming shows, including some popular products such as Himalayan salt from Pakistan and Bulgarian rose water for skincare, Sheng concluded.

Editor: Emmi Laine, Xiao Yi 

 

 

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Keywords:   Cross Border E-Commerce