China's Ministry of Commerce unveils plans to bolster construction of overseas warehouses
Date
5/30/2024 8:55:39 AM
(MENAFN) In a significant announcement made on Thursday, He Yadong, spokesperson for the Ministry of Commerce, revealed China's strategic initiatives aimed at fostering the expansion of cross-border e-commerce exports and the construction of overseas warehouses. Highlighting the pivotal role of cross-border e-commerce in propelling the nation's foreign trade growth, He emphasized its exponential development over the past half-decade, with trade volumes surging more than tenfold.
The Ministry of Commerce is poised to drive these efforts forward by advocating for the issuance of guidelines specifically tailored to facilitate the expansion of cross-border e-commerce exports and expedite the establishment of overseas warehouses. These guidelines are envisioned to provide a clear framework and regulatory support conducive to the sustained growth of cross-border trade activities.
The momentum of China's cross-border e-commerce sector was further underscored by statistics from the first quarter of 2024, which revealed a notable uptick in trade volumes. During this period, cross-border e-commerce transactions amounted to a staggering 577.6 billion yuan (approximately 81.23 billion U.S. dollars), marking a robust year-on-year increase of 9.6 percent. Of particular significance is the surge in exports, reaching 448 billion yuan with a growth rate of 14 percent, signaling the sector's resilience and global competitiveness.
The scale and scope of China's cross-border e-commerce ecosystem are equally impressive, with over 120,000 entities actively engaged in this burgeoning market. Moreover, the nation boasts more than 1,000 cross-border e-commerce industrial parks, serving as hubs of innovation and collaboration. Notably, the proliferation of overseas warehouses has reached remarkable heights, surpassing 2,500 facilities and spanning a total area exceeding 30 million square meters. This expansive infrastructure network is poised to enhance logistical efficiency and streamline the cross-border trade process, further bolstering China's position as a global e-commerce powerhouse.
In essence, the Ministry of Commerce's proactive measures reflect China's unwavering commitment to fostering an enabling environment for cross-border e-commerce and international trade. By leveraging innovative strategies and infrastructure investments, China is poised to capitalize on emerging opportunities in the global marketplace, driving sustained economic growth and prosperity.
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