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Booming cross-border e-commerce helps stabilize foreign trade

CCTV.com

08-14-2015 17:11 BJT

The Chinese government rolled out many supporting policies for the development of cross-border e-commerce. 

When Liu Nan started Mia.com one year ago, she never imagined she would sell 100 million yuan of goods in just one day. The cross-border e-commerce website specializes in selling foreign mother and baby products to China's growing middle class, who afford higher quality products at a higher price.

"Mia.com also serves as a gateway for foreign brands coming into China. This is a Japanese supplier of baby nappies. They can easily sell their products through Mia's logistics and distribution networks, and more importantly have access to Chinese consumers," Liu said.

"Recently, the government increased its support for cross-border e-commerce, including tax, credit and logistics. Its promising future is attracting more investment from e-commerce and retail giants. JD.com launched its worldwide platform in April, hoping to set a strong footing in the sector," Liu said.

Many foreign companies are also tapping into opportunities to export to China, as rising Chinese consumers are driving global demand. China signed a Free Trade Agreement with South Korea and Australia this June. That's expected to further facilitate cross-border e-commerce.

The country's foreign trade tumbled 8% year on year. But cross-border e-commerce is a new bright spot. Data from the iResearch consultancy estimates that the cross-border e-commerce's gross merchandise value grew from 11.9% of total Chinese foreign trade in 2013, to 14.8% last year. Analysts say the industry will not only help stabilize China's foreign trade sector, but also help improve the efficiency of foreign trade, and assist small and medium enterprises.

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