China News recently reported that, based on the newly released Ministry of Commerce international trade report, in the first half of this year, Chinese cross-border e-commerce trade volume reached RMB 3.6 trillion (around US$542 billion). This represents a 30.7 percent year-over-year growth. Among the RMB 3.6 trillion, RMB 2.75 trillion was the total for exports. International e-commerce has become the primary growth engine for China’s international trade. The Chinese government has established the strategy to support China’s international e-commerce industry so it will scale up, standardize, enhance industrial clustering, and be structured more properly. The Chinese strategy focuses on technology, logistics, business model innovation, and cooperation with foreign partners. The goal is to participate actively in forming the international standards and to blend into various international retail systems. Analysts expressed their belief that China’s plan can take good advantage of China’s manufacturing power to expand international sales channels.
Source: China News, November 7, 2017