(MENAFN) In the first quarter of 2024, Tianjin, a bustling port city in North China, reported a notable surge in its cross-border e-commerce foreign trade volume, reaching a total of 7.9 billion yuan (approximately 1.1 billion U.S. dollars). This figure represents a significant increase of 12 percent compared to the previous year and accounted for 4.1 percent of the city's overall foreign trade, as reported by the Tianjin municipal bureau of commerce.
During this period, the city witnessed substantial growth in both imports and exports facilitated through cross-border e-commerce channels. Imports amounted to nearly 1.8 billion yuan, marking a robust increase of 23.7 percent year on year, while exports totaled over 6.1 billion yuan, reflecting a commendable growth rate of 9.1 percent compared to the previous year, according to the bureau's data.
Looking ahead, Tianjin aims to further bolster its position as a hub for cross-border e-commerce by prioritizing initiatives aimed at enhancing the China (Tianjin) cross-border e-commerce comprehensive pilot zone. Through innovative policies and operational models, the city plans to accelerate the restructuring and upgrading of its industries, thereby fostering greater integration and development opportunities for cross-border e-commerce enterprises and manufacturers alike.
Moreover, Tianjin is committed to facilitating the expansion of market opportunities for enterprises by leveraging the potential of cross-border e-commerce trade. By encouraging businesses to capitalize on the benefits of e-commerce platforms for international trade, the city seeks to stimulate economic growth, enhance competitiveness, and foster a conducive environment for sustainable development in the realm of cross-border trade.
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