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China’s Cross-Border E-Commerce Empowers Small Businesses and Stabilizes Foreign Trade, Experts Say

BusinessChina's Cross-Border E-Commerce Empowers Small Businesses and Stabilizes Foreign Trade, Experts Say

According to experts, cross-border e-commerce has become a crucial factor in stabilizing China’s foreign trade while providing micro, small and medium-sized enterprises (MSMEs) and entrepreneurs with new opportunities to expand their presence in overseas markets. Amazon’s vice-president and head of Amazon Global Selling Asia, Cindy Tai, believes China’s accelerated efforts to promote digital transformation in traditional industries and MSMEs have instilled confidence in the steady and high-quality development of foreign trade. Tai pointed out that China’s imports and exports have supported economic growth, showing strong resilience amid external challenges and uncertainties.

Amazon’s latest data reveals that Chinese vendors sold billions of commodities to global consumers via the company’s 18 overseas marketplaces last year. Additionally, the number of Chinese sellers utilizing Amazon’s logistics services rose by over 20% year-on-year, achieving double-digit growth in sales revenue. In the past three years, the number of Chinese brand owners on Amazon surged nearly threefold, with their turnover posting double-digit growth in 2022. Chinese sellers have also demonstrated diversification trends in terms of merchandise categories and technological innovation, as well as brand and business types.

To help Chinese sellers achieve long-term, sustainable growth and enhance global operational efficiency, Amazon intends to provide them with comprehensive and reliable logistics, inventory, and supply chain solutions based on its global logistics capabilities and network advantages. Meanwhile, the General Administration of Customs reveals that the import and export scale of China’s cross-border e-commerce reached ¥2.11 trillion ($304.9 billion) in 2022, a year-on-year increase of 9.8%. E-commerce exports also stood at ¥1.55 trillion, up by nearly 12%.

Diane Wang, founder, chairperson, and CEO of DHgate Group, a Chinese cross-border business-to-business e-commerce platform, said the boom of cross-border e-commerce over the past decade enabled many MSMEs to establish online stores to digitize their international trade businesses and enhance their marketing channels to sell more products. DHgate is now doubling down on the fast-growing social commerce sector, launching MyyShop, a social commerce software-as-a-service business that connects Chinese supply chains with people who have substantial private domain traffic or social networking platform influencers worldwide.

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