Expo facilitates cross-border e-commerce

The curtain fell on the 7th Global Cross-border E-commerce Trade Expo in Shenzhen yesterday. With a focus on cross-border cultural and business exchanges and overseas branding, the three-day event brought together a wealth of companies from across the cross-border e-commerce industry chain, showcasing the latest business models, world-class service capabilities and cutting-edge industry technologies. With an expanded exhibition area of 100,000 square meters, the festival attracted nearly 4,000 cross-border e-commerce exhibitors from around the world.

Shenzhen, a major hub for cross-border e-commerce in China, saw its total foreign trade volume reach 1.02 trillion yuan (US$140.58 billion) in the first quarter of 2024, an increase of 28.8% year-on-year.

Among these achievements, cross-border e-commerce has shown robust growth resilience. Hu Caimei, director of the Department of Financial Development and State-owned Assets and State-owned Enterprise Research at the China Development Institute, noted that the rapid development of the digital and internet economy has brought immense potential to the market.

Novel business models, such as live-streaming e-commerce, have breathed new life into cross-border e-commerce. In addition, the competitive pricing of Chinese goods in the international market is an important factor driving the rapid development of cross-border e-commerce in Shenzhen.

Shenzhen's exceptional business environment and policy framework have attracted many renowned domestic and international platforms to increase their investments. Platforms such as Douyin, JD International, Alibaba and others have strategically positioned themselves in Shenzhen. The headquarters of multinational e-commerce platforms such as Shopee from Southeast Asia, Ozon from Russia and Jumia from Africa have also made Shenzhen their home. Statistics show that Shenzhen is home to more than 150,000 cross-border e-commerce export companies, providing a dominant presence for Chinese sellers on various platforms.

According to the e-commerce department of the Ministry of Commerce, China's online retail sales reached 33 trillion yuan in the first quarter of 2024, a year-on-year growth of 12.4%. E-commerce has played a pivotal role in fostering and expanding new forms of consumption, promoting trade-in of consumer goods, facilitating digital-physical integration and deepening international cooperation. 

The 7th Global Cross-border E-commerce Trade Expo not only showcased the latest achievements in the cross-border e-commerce industry, but also provided a platform for global buyers and sellers to network and collaborate. Let’s check out this exciting event through the lens of Shenzhen Daily photographer Liu Xudong.

Visitors and exhibitors engage in dialogue at the Global Traffic Conference 2024 (GTC2024), which kicked off yesterday at the Shenzhen Convention and Exhibition Center in Futian District. Showcasing the prosperity of China’s cross-border business, the two-day event has attracted over 200 exhibiting companies and over 30,000 professionals from home and abroad. Photos by Liu Xudong