E-commerce rises in China in Q1, embracing international partnerships
Date
4/22/2024 5:01:45 AM
(MENAFN) Recent data released by the Chinese Ministry of Commerce unveils a notable uptick in the volume of cross-border e-commerce within China, marking a 9.6 percent year-on-year increase. The figures, indicating a total transaction volume of 577.6 billion yuan (approximately USD81.3 billion) for the first quarter of the year, underscore the resilience and growth potential of China's digital commerce landscape.
Of particular significance is the surge in China's e-commerce imports and exports with partner countries along the "Silk Road e-commerce" corridor. Nations such as the UAE, Hungary, Cambodia, and Brazil have witnessed robust expansion in their trade relations with China through digital channels during the aforementioned period. This trend reflects the deepening integration of global markets facilitated by e-commerce platforms.
Highlighting the momentum in international cooperation within the e-commerce sphere, the Ministry of Commerce reports a marked acceleration in collaborative initiatives. Notably, for the first time, the ministry has orchestrated promotional tours abroad for Chinese e-commerce platforms. Through these outreach efforts, Chinese companies have engaged with over 60 small and medium-sized enterprises in Italy, fostering bilateral trade relationships and enhancing market access for both parties.
This strategic push towards international collaboration underscores China's proactive stance in harnessing the potential of cross-border e-commerce as a driver of economic growth and global connectivity. By leveraging digital platforms and forging partnerships with diverse stakeholders, China aims to expand its footprint in the global e-commerce landscape while facilitating mutual benefits for participating nations. As such initiatives gain traction, they are expected to further catalyze cross-border trade flows and deepen economic integration among nations along the Silk Road and beyond.
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