Livestreaming hosts promote sales at the 2023 China International Fair for Trade in Services in Beijing. (WANG JING/CHINA DAILY) The ongoing cross-border e-commerce surge in China is unlocking fresh growth opportunities for foreign trade, experts and executives said recently. They said there was a notable uptick in Customs-registered cross-border e-commerce enterprises from Chinese companies and a rise in funding, underscoring a dynamic landscape that is reshaping the global trade scenario.
A report released at the recently concluded E-Commerce Convention at the China International Fair for Trade in Services revealed that as of June, the number of Customs-registered cross-border e-commerce enterprises in China had reached 78,811, marking a 20.81 percent increase from the end of 2023. The Ministry of Commerce said China's cross-border e-commerce trade volume has grown more than tenfold in the past five years.
In the first half of 2024, China's cross-border e-commerce imports and exports totaled 1.22 trillion yuan ($172.7 billion), a 10.
5 percent year-on-year increase, surpassing the overall growth rate of China's foreign trade by 4.4 percentage points during the same period. Fu Longcheng, deputy head of China General Chamber of Commerce, said: "As an integral part of China's foreign trade, cross-border e-commerce has become a key driver of high-quality economic development.
"Through cross-border e-commerce platforms, a large number of small and medium-sized enterprises are vig.