In the past five years, China’s scale of cross-border e-commerce trade has increased by more than 10 times. According to He Yadong, spokesman for the Ministry of Commerce, this significant growth highlights the dynamic nature of China’s international trade landscape.
Impressive Growth in 2024
Q1 2024 Performance
In the first quarter of 2024, the cross-border e-commerce trade reached 577.6 billion yuan ($79.76 billion), marking a 9.6 percent year-on-year increase. Exports were particularly strong, totaling 448 billion yuan, a 14 percent rise compared to the previous year.
Infrastructure and Entities
Cross-Border E-Commerce Ecosystem
Preliminary statistics reveal that China boasts over 120,000 cross-border e-commerce entities. The infrastructure supporting this trade includes at least 1,000 industrial parks and more than 2,500 overseas warehouses. Notably, over 1,800 of these warehouses focus on serving cross-border e-commerce, with a combined area exceeding 22 million square meters.
Strategic Importance and Development
Role in Foreign Trade
Cross-border e-commerce is not only a powerful driver of China’s foreign trade but also a significant trend in the expansion of international trade. The rapid development of cross-border e-commerce and supporting infrastructure like overseas warehouses underscores the sector’s vast growth potential and strong impact on the global market.
Future Facilitation
The Ministry of Commerce aims to further enhance industrial development through China’s 165 cross-border e-commerce comprehensive pilot zones. By leveraging regional industrial strengths and location advantages, the ministry plans to encourage more enterprises in industrial belts to engage in international trade via cross-border e-commerce.
China’s commitment to expanding its cross-border e-commerce capabilities ensures its continued influence and leadership in global trade.
