[Information source] ECONOMIC DAILY
[Release Date] October 30, 2022
According to Economic Daily report, in the five years since 2017, the scale of China cross-border e-commerce imports and exports market has increased nearly 10 times. Imported goods mainly include beauty and toiletries, medical and health products, maternal and child products, fresh food, etc. Small and medium enterprises (SMEs) have become a new force in the innovation and development of foreign trade.
As cross-border trades develop rapidly, there are inherent industry challenges facing China Cross-Border E-Commerce
- Brand awareness and building capacity are weak.
- Cost efficiency for cross-border logistics are not
- Cross-border payment and settlement channels need to be more comprehensive
- Inadequate focus on cross-border compliance development.
Given those challenges, China government has proposed four measures as key focus areas in developing China cross-border e-commerce industry:
1. Build a high-quality e-commerce brand.
Focus on innovative product research and development, avoid homogenized products, encourage enterprises to use third-party SaaS services to create websites or build independent cross-border e-commerce websites, and develop in the direction of vertical B2C and professional B2B. Encourage cross-border e-commerce enterprises to improve their ability to effectively reach consumers by developing big data on their own or cooperating with third-party platforms.
2. Improve the overseas warehouse network covering the world.
Encourage cross-border e-commerce enterprises and logistics enterprises to actively participate in the construction of overseas warehouses, and accelerate the optimization of overseas warehouses in key markets. Encourage overseas warehouse enterprises to connect to the platform and accurately match supply and demand information. Explore the construction of overseas logistics intelligent platform, provide rich e-commerce application scenarios for digital technologies such as cloud computing, big data, and artificial intelligence, and combine intelligent warehouse management systems with intelligent terminals such as fully automatic sorting equipment to improve the efficiency of warehouse operations. Build a one-stop comprehensive service system for overseas warehousing, so that logistics, warehousing and payment can achieve a high degree of docking with local resources.
3. Createa safe and convenient cross-border payment and settlement system.
Strengthen multilateral and bilateral cooperation on financial regulatory information transparency to provide a good international environment for cross-border e-commerce trade payment and settlement. Actively promote the layout of key areas of financial infrastructure and international cooperation, help Chinese financial institutions and third-party payment institutions go global, and create safe, low-cost and efficient cross-border payment solutions for cross-border e-commerce. Give full play to the leading role of the cross-border e-commerce comprehensive pilot zone to promote the use of RMB for cross-border payment and settlement. Explore the application of big data, blockchain, artificial intelligence and other technologies in cross-border payments to reduce the number of intermediary banks, improve transaction speed, and reduce payment costs.
4. Improve support policies for cross-border e-commerce development.
Support the establishment of a complete cross-border e-commerce ecosystem alliance with products, warehousing, data, software, payment, legal and other aspects to provide support for cross-border e-commerce compliance and efficient operation.
MyMyPanda has obtained China cross-border e-commerce license and is authorized by the government to support overseas ecommerce with cross-border services. The logistics, customs & tax; and payment solutions are fully in compliance to China regulations. Discover the one-stop solution of MyMyPanda CBEC services to sell direct to China consumers. Get a head start for your business , consult our CBEC experts to provide you with professional advice!