(MENAFN) The Tianjin municipal bureau of commerce has reported a notable increase in the cross-border e-commerce foreign trade volume for North China's port city in the first quarter of 2024. According to their data, the total trade volume reached 7.9 billion yuan (approximately 1.1 billion U.S. dollars), marking a significant 12 percent rise compared to the previous year. Impressively, this segment accounted for 4.1 percent of Tianjin's overall foreign trade during this period, indicating its growing significance in the city's economic landscape.
Breaking down the figures, it was revealed that the cross-border e-commerce trade saw robust activity in both imports and exports. Imports recorded nearly 1.8 billion yuan, reflecting a substantial 23.7 percent increase year on year. On the export front, the city achieved over 6.1 billion yuan, showcasing a commendable 9.1 percent growth compared to the same period last year. These positive trends underscore the resilience and potential of Tianjin's cross-border e-commerce sector amidst dynamic global trade conditions.
Looking ahead, Tianjin has outlined ambitious plans to further enhance its cross-border e-commerce infrastructure and capabilities. The city aims to bolster the construction of the China (Tianjin) cross-border e-commerce comprehensive pilot zone through innovative policies and operational models. By facilitating industry restructuring and upgrading, Tianjin seeks to foster closer integration between cross-border e-commerce enterprises and manufacturers. This strategic approach is envisioned to stimulate market expansion opportunities for local businesses, leveraging the transformative potential of cross-border e-commerce trade to drive sustained economic growth and prosperity in Tianjin.
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