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Agricultural Development Bank of China
Economy

China's cross border e-commerce trade up 26.2 pct in H1

July 16, 2020


Abstract : China's cross-border e-commerce (CBEC) trade bucked up against the global downward trend in the first half of this year, showing double-digit growth.

BEIJING, July 16 (Xinhua) -- China's cross-border e-commerce (CBEC) trade bucked up against the global downward trend in the first half of this year, showing double-digit growth. 

Data from the General Administration of Customs showed that the CBEC trade monitored by the authority increased by 26.2 percent during the January-June period, with CBEC exports and imports rising 28.7 percent and 24.4 percent respectively. 

Statistics from local government departments also spoke of booming CBEC trade. 

For example, Zhengzhou Airport Economy Zone in central China's Henan Province saw its CBEC import and export transaction value in the first six months hit 4.72 billion yuan, surging 119.43 percent year on year. 

Ningbo airport economic demonstration zone in east China's Zhejiang Province raked in 135 million yuan from CBEC from January to May, up 4.5 times. 

As the COVID-19 has hindered offline activities, CBEC becomes a significant way for foreign trade enterprises to meet overseas consumers' demands. 

In fact, a large number of foreign trade enterprises have turned to CBEC to do business. The number of online stores opened by merchants on AliExpress, Alibaba's CBEC retail platform, soared 132 percent month on month in March, when the pandemic started to spread across the world. 

Data from AliExpress also showed that the overseas sales of home appliances, household items, toys and electronic consumer products made in China are also growing rapidly. The sales of made-in-China refrigerators, for instance, skyrocketed 700 percent in Spain

Besides endogenous growth strength, national supportive policies have also injected impetus to the sector, stated Bai Ming, deputy director with the international market research institute of Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce. 

For example, from July 1, China started piloted new ways of supervision on CBEC business-to-business (B2B) direct export and CBEC export overseas warehouses in Beijing Customs, Tianjin Customs, Nanjing Customs and other seven customs to further stabilize foreign trade. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com) 

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Keyword: cross-border e-commerce

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