China’s cross-border e-commerce imports and exports grew 10.5 percent in the first half of 2024, 4.4 percentage points higher than the country’s overall foreign trade growth, said Liu Dalian, spokesperson for the General Administration of Customs of the People’s Republic of China, on July 30, Yicai reported.
China’s cross-border e-commerce volume reached 1.22 trillion yuan ($168 billion) in the first six months of the year, said Liu Dalian. Last year, this figure was up 1.2 times compared with 2018.
The explosive growth of cross-border e-commerce has created new challenges for customs regulation, Liu said. Customs monitor more than 7 billion pieces of cross-border e-commerce and express parcels per year, accounting for about 20 million per day, Liu said.
According to Liu, customs authorities are introducing innovative regulatory methods, developing and operating customs clearance service systems for cross-border e-commerce, while improving efficiency.
The customs are also taking measures to ensure the quality of cross-border e-commerce products and prevent prohibited items from entering China, Liu added. Liu said the customs will continue to improve regulatory mechanisms to promote the development of cross-border e-commerce. Work is currently underway to promote the pre-shipment inspection mechanism for cross-border e-commerce export goods, as well as expand pilot projects for the return of cross-border e-commerce retail goods for export.
China has ranked first in total merchandise trade for seven consecutive years, being the largest trading partner of more than 150 countries and regions, and the number of foreign trading companies in the country has nearly doubled since 2012. In the first half of this year, the country’s foreign trade volume hit a new high, exceeding 21 trillion yuan (2.9 trillion U.S. dollars) for the first time, according to statistics from the customs administration.
Source: Rossa Primavera
I am Michael Melvin, an experienced news writer with a passion for uncovering stories and bringing them to the public. I have been working in the news industry for over five years now, and my work has been published on multiple websites. As an author at 24 News Reporters, I cover world section of current events stories that are both informative and captivating to read.