China is pushing to build warehouses abroad

BEIJING – China will promote the construction of overseas warehouses and boost cross-border e-commerce exports, He Yadong, a spokesman for the Ministry of Commerce, said on Thursday.

Cross-border e-commerce is an important driving force for the development of China’s foreign trade. Over the past five years, cross-border e-commerce in China has increased more than tenfold, he said at a regular news conference.

The ministry will insist on publishing guidelines on expanding cross-border e-commerce exports and accelerating the construction of overseas warehouses, he added.

In the first quarter of 2024, China’s cross-border e-commerce reached 577.6 billion yuan ($81.23 billion), up 9.6% year-on-year, of which exports amounted to 448 billion yuan with a growth rate of 14 %.

There are over 120,000 cross-border e-commerce entities and over 1,000 cross-border e-commerce industrial parks in China. The number of foreign warehouses has so far exceeded 2,500, occupying a total area of ​​over 30 million square meters.