Improved e-commerce exports are a priority – Chinadaily.com.cn

China took a series of steps on Friday to support the development of cross-border e-commerce and overseas warehousing sectors, pledging stronger financial support to support the development of adequate infrastructure and logistics systems.

The executive meeting of the State Council, China’s cabinet, adopted a policy document aimed at expanding exports through cross-border e-commerce and accelerating the development of overseas warehousing.

The meeting, chaired by Premier Li Qiang, highlighted the importance of cross-border e-commerce and overseas warehouses in optimizing the structure and expanding the scale of China’s foreign trade.

Such a move will help shape new strengths in China’s global economic cooperation, the meeting’s summary said.

The key actions adopted include cultivating more entities engaged in cross-border e-commerce and supporting traditional foreign trade enterprises in realizing their potential for the sector.

It concluded that talent training in cross-border e-commerce will be intensified and more platforms will be provided for companies in the sector to showcase their products and develop global partnerships.

Brand building of enterprises in this sector will be promoted. The summary said the government will optimize its supervision and services, actively engage in the formulation of standards and policies, and strengthen international cooperation.

The meeting emphasized the importance of increasing self-discipline in the sector, promoting orderly competition and supporting the development of both upstream and downstream segments of industrial chains.

According to the General Administration of Customs, the total value of China’s imports and exports through cross-border e-commerce reached 2.38 trillion yuan ($328.57 billion) in 2023, with a year-on-year growth rate of 15.6 percent.

The administration said the number of consumers engaged in cross-border e-commerce imports was 163 million last year.