China’s cross-border e-commerce turnover
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China’s cross-border e-commerce is forecast to see turnover top 9 trillion yuan (1.3 trillion U.S. dollars) in 2018, according to a report released by the China E-Commerce Association.
The report, released on Sunday at the ongoing 20th China International Fair for Investment and Trade (CIFIT), held in Xiamen, east China’s Fujian Province, said that the top 10 import sources of China’s cross-border e-commerce trade in 2017 were Japan, the United States, the Republic of Korea, Australia, Germany, New Zealand, the Netherlands, France, Britain, and China’s Hong Kong Special Administrative Region.
Cross-border e-commerce is most active in south China’s Guangdong Province, followed by Beijing, east China’s Zhejiang and Shandong provinces and central China’s Henan Province for exports via e-commerce.
Tong Xiaomin, chief engineer at the Information Center of the Ministry of Industry and Information Technology, said that the Chinese government supports cross-border e-commerce with policies and infrastructure building.
Globally, however, trade protectionism in forms of tariff barriers and anti-monopoly investigations has posed negative influence on the development of cross-border e-commerce, Tong said.
He suggested that Chinese e-commerce firms and importers should heed turbulence in the international trade environment and improve their global competitiveness. Meanwhile, the e-commerce platforms should explore new market and adopt new technologies and applications to ensure the high-quality development.
Questions & Answers
Q.What is the projected turnover for China's cross-border e-commerce in 2018?
What is the projected turnover for China's cross-border e-commerce in 2018?
According to a report by the China E-Commerce Association, turnover is forecast to exceed 9 trillion yuan (1.3 trillion U.S. Dollars) for 2018. This figure indicates significant growth in the sector for the current year.
Q.Which countries were the main sources of imports for China's cross-border e-commerce in 2017?
Which countries were the main sources of imports for China's cross-border e-commerce in 2017?
In 2017, the top import sources were Japan, the United States, the Republic of Korea, Australia, Germany, New Zealand, the Netherlands, France, and Britain. China’s Hong Kong Special Administrative Region also featured in the top ten.
Q.Which Chinese provinces are most active in cross-border e-commerce exports?
Which Chinese provinces are most active in cross-border e-commerce exports?
South China’s Guangdong Province is the most active for e-commerce exports. It is followed by Beijing, east China’s Zhejiang and Shandong provinces, and central China’s Henan Province, indicating regional hubs for this trade.
Q.What challenges does trade protectionism present to China's cross-border e-commerce development?
What challenges does trade protectionism present to China's cross-border e-commerce development?
Trade protectionism, through tariff barriers and anti-monopoly investigations, negatively impacts the development of cross-border e-commerce. Tong Xiaomin suggested firms should heed this turbulence and improve their global competitiveness.
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