Rapidly growing cross-border e-commerce is driving China’s export growth

China’s rapidly growing cross-border e-commerce has boosted the country’s exports in recent years, a Commerce Ministry spokesman said on Thursday.

“In recent years, cross-border e-commerce, coordinated with overseas warehouses and other new foreign trade infrastructure, has developed rapidly, demonstrating great potential and industry leadership. “In the past five years, China’s cross-border e-commerce has grown more than 10 times,” said He Yadong, spokesman for the Ministry of Commerce.

In the first quarter of 2024, China’s cross-border e-commerce imports and exports amounted to 577.6 billion yuan (about $81.3 billion), up 9.6 percent year-on-year, of which exports amounted to 448 billion yuan ( approximately US$63). ), which means an increase of 14%. year to year, according to statistics from the Ministry of Trade.

According to preliminary statistics from various regions, there are over 120,000 cross-border e-commerce enterprises in the country, over 1,000 cross-border e-commerce industrial parks and over 2,500 foreign warehouses with an area of ​​over 30 million square meters, of which over 1,800 foreign warehouses focused on serving cross-border trade electronics has an area of ​​over 22 million square meters.

The Ministry of Commerce will use 165 pilot cross-border e-commerce zones across the country to encourage more enterprises to conduct foreign trade through e-commerce and fully exploit their comparative advantages, the spokesman said.

Recently, China has been developing cross-border e-commerce enterprises and encouraging enterprises dealing in traditional foreign trade goods such as household appliances, ceramics, furniture and clothing to expand their international business through e-commerce.

Rapidly growing cross-border e-commerce is driving China’s export growth

Malaysian Prime Minister Anwar Ibrahim highly appreciated the cooperation between China and expressed optimistic expectations for the future development of bilateral relations.

In an interview with China Media Group (CMG), Anwar highlighted the two countries’ close cooperation in areas such as politics, economy and culture, and praised the Chinese government’s respectful and non-condescending approach to cooperation with relatively smaller countries, including Malaysia.

“China is an important neighbor and a vibrant economy. Having worked with the Chinese, I don’t see any patronizing stance they take towards Malaysia, which is a relatively smaller country. We discuss very honestly, and even when he was in China, President Xi Jinping gave me respect and friendship, which I value. We discussed not only trade and economic issues, but also civilization and shared prosperity,” Anwar said.

Noting the increase in trade volumes between China and Malaysia over the past six months, the Prime Minister said China is not only investing in specific areas but also helping Malaysia build its competencies.

“The growth in trade volume is phenomenal. Even in the last six months, I have observed an increase in trade volume among important companies in the oil and gas, energy transformation, hydropower, ecology (transition), digital technology, automotive industry, established educational institutions for technology transfer, invited our young specialists and engineers . Therefore, it is not about investing in a specific field, but about synergy of action to raise the standards of our competences in various fields, said Anwar.

As China and Malaysia celebrate the 50th anniversary of diplomatic relations, the constructive and fruitful cooperation between the two nations sets a positive trajectory for their future relations.

The Malaysian Prime Minister is optimistic about the future development of bilateral relations with China