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Haikou Jiangdong New Area
News for Outlets

Digital new foreign trade becomes new engine for China's export

July 24, 2020


Abstract : Digital new foreign trade has become a new engine for China's export as the cross-border e-commerce exports grow rapidly amid the COVID-19 pandemic, reported Securities Daily Thursday.

(日本专线·配图)天津今年上半年跨境电商进出口订单量超过1500万单(3)1.jpg

BEIJING, July 24 (Xinhua) -- Digital new foreign trade has become a new engine for China's export as the cross-border e-commerce exports grow rapidly amid the COVID-19 pandemic, reported Securities Daily Thursday.

The Alibaba international site on Thursday announced that the actual transaction value on the platform had increased by 80 percent year on year in the first half of 2020, with orders and paid buyers up 98 percent and 60 percent year on year, respectively.

According to the latest data from the General Administration of Customs (GAC), China's cross-border e-commerce exports had grew by 28.7 percent from January to June this year.

While as the world's largest B2B (Business-to-Business) cross-border e-commerce platform, Alibaba international site had seen export through the platform grow nearly three times faster than the industry.

Transforming to digital new foreign trade has become a necessary and irreversible trend in global trade, said Zhang Kuo, general manager with the Alibaba international site.

He noted that the actual transaction value of the platform had registered a year-on-year growth of 126 percent in June, and has maintained a triple-digit growth since July.

The European and American markets as well as the emerging markets have contributed to the growth of the digital new foreign trade.

In the first half of 2020, the number of countries and regions boasting a year-on-year growth exceeding 100 percent in terms of trading value on the Alibaba international site hit 70.

The United States, the European Union and the Association of Southeast Asian Nations (ASEAN) were the three major markets for cross-border e-commerce exports during this period. The United States and the European Union posted a year-on-year growth of 91 percent and 88 percent, respectively.

The cross-border e-commerce exports to the emerging markets had presented an astounding growth in the first half of 2020.

Six of the ten ASEAN countries ranked among the top 30 in terms of transaction value, with Thailand ranking the 8th, and Laos, Cambodia and Myanmar seeing the fastest growth.

Some African countries also achieved rapid growth in trade value, with that of Ethiopia growing more than two times and that of Togo more than three times.

The top ten industries in terms of transaction value on the Alibaba international site during this period were respectively machinery, home gardening, consumer electronics, beauty and personal care, packaging and printing, sports and entertainment, health care, clothing, safety protection and building materials.

According to Zhang Kuo, the increase of the cross-border e-commerce exports through the Alibaba international site was attributed to the platform's in-advance layouts for foreign trade firms, online exhibitions and reliable cross-border supply chain system. (Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)

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Keyword: digital new foreign trade

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