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Xinhua News Agency: Cross-border e-commerce good superposition drive enhancement
Published:
2023-09-26
In recent years, China's cross-border e-commerce has maintained rapid growth. Through digital technology, cross-border e-commerce optimizes international transaction and production processes, reduces transaction and production costs, optimizes supply and demand matching, and efficiently allocates various cross-border resources, playing an important role in China's foreign trade and two-way cross-border capital flow. In the future, the effect of trend traction, technology promotion, policy promotion and rule protection will be superimposed, and the driving force for the development of cross-border e-commerce will continue to increase.
In recent years, China's cross-border e-commerce has maintained rapid growth. Through digital technology, cross-border e-commerce optimizes international transaction and production processes, reduces transaction and production costs, optimizes supply and demand matching, and efficiently allocates various cross-border resources, playing an important role in China's foreign trade and two-way cross-border capital flow. In the future, the effect of trend traction, technology promotion, policy promotion and rule protection will be superimposed, and the driving force for the development of cross-border e-commerce will continue to increase.
Cross-border e-commerce is developing rapidly
Data from the General Administration of Customs show that in 2022, China's cross-border e-commerce import and export scale reached a new high of 2.1 trillion yuan, an increase of 7.1% year on year, accounting for 4.9% of the total value of the national trade in goods. Among them, the export was 1.53 trillion yuan, an increase of 10.1%, accounting for 6.4% of the total export value of the country; Imports totaled 527.8 billion yuan, down 0.8 percent and accounting for 2.9 percent of the total value of imports.
Jiang Xiaojuan, president of the China Society of Industrial Economics and a university professor at the Chinese Academy of Social Sciences, said that China's international e-commerce has developed rapidly in recent years, and China's cross-border e-commerce exports increased by 19.9% year-on-year in the first half of this year, nearly double the growth rate in the same period in 2022.
At the forum held during the 2023 Service Trade Fair, Xiao Lu, deputy director of the Department of Foreign Trade of the Ministry of Commerce, said that the scale of cross-border e-commerce imports and exports has increased 10 times in five years, reaching 2.11 trillion yuan in 2022.
Qiu Sheng, vice president of Amazon China, said that looking to the future, global e-commerce will continue to develop rapidly. It is predicted that by 2027, the global retail e-commerce outside China will reach the annual scale of 4 trillion US dollars, among which the developed regions represented by North America, Europe and Japan maintain steady growth, the emerging regions represented by the Middle East and Latin America are rising strongly, and the global commercial procurement is accelerating online, all of which show a very definite opportunity for Chinese cross-border e-commerce enterprises.
The surveyed scholars said that the expected development data from 2022 to 2026 show that the growth rate of global retail e-commerce will be twice that of global retail growth, and at the same time, the proportion of cross-border e-commerce in retail e-commerce is increasing.
New trends and new features are emerging
In the past 10 years, China's e-commerce has experienced the accumulation and growth from extensive growth to intensive cultivation, and is entering a new stage of long-term deep cultivation, and showing new trends and new characteristics.
-- Rapid product iteration, e-commerce platform stickiness increased. Jiang Xiaojuan said that now is the era of fast-moving consumer goods, in 2020, Jingdong's top 15 sales of goods, the brand iteration rate is about more than one-third. High iteration and new brands are the most important force driving consumption. With the constant iteration of new brands on the e-commerce platform, brand loyalty may not be able to stick with consumers. Consumers are sticky to the e-commerce platform that can produce new products, and they believe that the platform will continue to introduce new products.
The same thing is happening on Amazon. Qiu Sheng said: "Last year, more than one-third of the product sales of Chinese sellers on Amazon came from new options created within 12 months, and new options are increasingly important to the contribution of sellers' performance. Product price advantage is no longer the only selling point of Chinese sellers, more and more sellers are concerned and thinking about whether the product innovation is strong enough, whether the product iteration is fast enough, and what consumer needs have not been met."
-- Digitization of the entire life cycle of goods. Qiu Sheng said that in today's customer-centric digital trade, the digital upgrade of the whole life cycle is the only way. In order to help the efficient growth of China's cross-border e-commerce, Amazon has launched a number of intelligent chemical tools to help merchants efficiently analyze market demands, learn market dynamics, and help achieve cost reduction and efficiency.
"At present, the trend of integration of trade in goods and service trade, trade and industry integration, online and offline integration is increasingly emerging, and the development of cross-border e-commerce is driving the digitalization of the whole trade process and various links," Xiao said.
Qiu Sheng revealed that the musical instrument brand Donner with Amazon's business opportunity detector and other digital intelligence chemical tools for new category innovation, in-depth analysis of user pain points, the original detachable silent guitar, this new product in Amazon half a year sales of more than one million dollars.
-- The application of AI technology in the field of e-commerce continues to improve. According to a recent Amazon survey, 78% of Chinese sellers are using or considering using AI-generated services to support copywriting, customer service, and operational data analysis. In response to the rapidly changing consumer needs and different situations of multiple sites around the world, developing their own digital and intelligent strategy, and effectively using tools such as big data and artificial intelligence will be a compulsory course for every cross-border seller.
-- Green and sustainable development has become a long-term investment for many brands in differentiated competition. In the field of international trade and economic cooperation, green and low-carbon has become the forefront of development, and the accelerating green economy is bringing continuous new opportunities for cross-border e-commerce.
According to the survey, 60 percent of U.S. consumers actively seek out brands with more sustainable business practices, compared to 71 percent in Europe. According to the 2022 survey, 67% of European respondents said that the use of environmentally friendly materials in a product is an important factor in their decision to buy a product. In 2022, the number of items on Amazon with the "Climate Friendly Pledge" label more than doubled to more than 550,000. For example, Anker, a consumer electronics brand, has always been committed to promoting sustainable development in the industry, and its products use bio-based materials from plants such as corn and sugar cane to reduce the use of petroleum plastics at source.
Challenges and opportunities coexist
E-commerce platforms have become the leaders in the development of global digital economy and digital trade, playing an important role in trade promotion such as reducing cross-border transaction costs, tapping the needs of overseas customers, cross-border payment, supply chain management and brand building. However, cross-border e-commerce governance also faces prominent challenges such as rapid model change and lagging governance.
Jiang Xiaojuan said, first of all, multi-link, cross-regional trade transactions increase the difficulty of supervision. The display, settlement, payment, delivery, taxation, regulation and other links of a digital platform in the process of e-commerce trade can be dispersed in different countries, which need to meet the different legal systems, cultural concepts and quality standards of different countries, and sometimes not who is right or wrong between countries, but the standards are different.
Secondly, the means of violation are diversified. There are problems such as small food packaging, reduced wool content in sweaters, and reduced electrical functions, not all e-commerce supplies are low-end goods, but it will do some reduction processing, so the price may be cheap. Some fakes use online and offline joint counterfeiting, and now some illegal businesses have a very strong ability to fake, increasing the difficulty of supervision and governance.
Third, commodity fraud extends to credit fraud. At present, in the platform system of import and export enterprises, there is a phenomenon that extends from commodity fraud to the field of credit fraud, including the platform system in the United States, there are also serious problems such as false reviews, false scores and other problems. Illegal reputation establishment methods such as false certification have become the main characteristics of online trade trust loss, bringing new challenges to the government's offline supervision. The issues requiring regulation are complex and rapidly changing, and the current capacity and means of government regulation are unable to keep up.
According to the Digital Trade Development and Cooperation Report 2023, major economies need to play a leading role, international organizations need to play a role as carriers and platforms for dialogue, consultation and rule-making, and multinational corporations need to play a role of main impetus and demonstration to speed up the bridging of the development gap between digital infrastructure and digital trade.
Chen Chunjiang, assistant minister of Commerce, said during the 2023 Service Trade Fair that it will speed up the creation of new areas of Silk Road e-commerce cooperation, pragmatically promote bilateral e-commerce cooperation with the "Belt and Road" countries, strengthen policy communication, industrial docking, capacity building, and enhance the sense of gain of enterprises and people on both sides.
The "Digital Trade Development and Cooperation Report 2023" believes that in the future, the effect of trend traction, technology promotion, policy promotion and rule protection will be superimposed, and the driving force of cross-border e-commerce development will continue to increase.
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