China Ecommerce Exports Up 92.7% As BRI Countries Develop Mutual Digital Trade Engagement
China has been rapidly developing its mutual ecommerce trade agreements by signing MoUs on e-commerce cooperation and establishing bilateral e-commerce cooperation mechanisms for cooperation in policy exchange, planning coordination, industry promotion, sub-national cooperation, capacity building and other fields with over 20 countries, according to MOFCOM.
China’s first bilateral MoU on e-commerce cooperation was with Chile at the end of 2016. The results have been slowed due to covid but are now rapidly developing – China’s cross-border e-commerce exports in Q1 2022 climbed 92.7% YoY according to statements made by MOFCOM at the 6th Global Cross-Border E-Commerce Conference held in Zhengzhou, east China.
At the event, Uruguayan ambassador to China Fernando Lugris stated that Uruguay was ready to cooperate with China in cross-border e-commerce and help Chinese partners expand their business in Latin America and the Caribbean region. Similar expressions of intent were given by Ali Obaid Al Dhaheri, ambassador of the United Arab Emirates (UAE) to China, who said that Silk Road e-commerce helps conventional foreign trade companies realize customized manufacturing. Discussions the huge potential of cross-border e-commerce, he said the UAE was ready to enhance and develop bilateral relations through the cooperation mechanism.
Zhang Li, director of the e-commerce research institute affiliated with MOFCOM, said that Silk Road e-commerce has many positive effects on the BRI, as it can facilitate trade between China and countries along the route, help these countries with the development of many industries including logistics, payment and digital development, and empower the trade sector along the BRI route through digital and internet technologies, observed
The rapidly developing Silk Road e-commerce volumes can be largely attributed to China’s efforts in a range of aspects. The country has established cross-border e-commerce comprehensive pilot zones and rolled out a series of supportive policies, expanding its list for cross-border e-commerce retail imports.
In addition, China has held multiple events, such as livestreaming sessions and launches of country pavilions on e-commerce platforms, to help its partners bring their quality products into the Chinese market and find new trade channels. During the 2022 China-ASEAN Silk Road Cross-border E-commerce Forum held in Nanning, south China’s Guangxi, in September, online events were held to promote products from Guangxi, while diplomats from ASEAN countries in China were invited to introduce their countries’ products to Chinese consumers.
China’s MOFCOM has held online training sessions for officials and those working in cross-border e-commerce from cooperating countries, covering areas such as policies and regulations, development trends, innovation, and practice. So far, China has held dozens of livestreaming training sessions, attracting over 6,000 viewers from 20 countries with content replayed over 100,000 times as it seeks to educate overseas traders concerning usage of online ecommerce platforms.
The trick for foreign exporters remains accessing the Chinese domestic ecommerce platforms, with instructions often in Chinese and the regulatory aspect somewhat confusing for new-to-China sellers. Dezan Shira & Associates China Ecommerce Access team can assist overseas exporters access the China market. For assistance, please contact email@example.com