China sees 9.6 percent surge in cross-border e-commerce trade in January-March
Date
4/21/2024 8:54:12 AM
(MENAFN) China's cross-border e-commerce trade surged by 9.6 percent year-on-year to reach 577.6 billion yuan (about USD81.3 billion) in the first quarter of the current year, based on data from the Ministry of Commerce (MOC). This robust growth reflects the increasing significance of e-commerce as a driving force in global trade dynamics.
During this period, China's e-commerce imports and exports with key Silk Road partner countries, including Hungary, the United Arab Emirates, Cambodia, and Brazil, experienced remarkable expansion. The Ministry highlighted the substantial progress in international collaboration within the e-commerce realm, emphasizing the growing momentum of cooperation initiatives with Silk Road nations.
In a notable development, the Ministry reported an acceleration in international cooperation efforts, citing the organization of roadshows by Chinese e-commerce platforms in foreign countries for the first time. This innovative approach facilitated direct engagement between Chinese e-commerce enterprises and over 60 small and medium-sized businesses in Italy, fostering mutually beneficial partnerships and enhancing cross-border trade opportunities.
The Ministry highlighted the continued momentum in China's domestic online retail sector, with national online retail sales reaching 3.3 trillion yuan in the first quarter. Notably, service consumption emerged as a primary driver of growth, underscoring the evolving consumer preferences and the increasingly pivotal role of online platforms in facilitating service-based transactions.
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