Cross Border E-commerce in The Yangtze River Delta Region Continues To Grow, And High-end Equipment Exports Show Good Momentum

 

Cross border e-commerce in the Yangtze River Delta region continues to grow, and high-end equipment exports show good momentum

As the forefront of China's opening-up and an important engine of economic growth, the proportion of foreign trade in the Yangtze River Delta region accounts for over 30% of the country's total foreign trade value. So, under the current situation of foreign trade, what are the new highlights and trends in the development of foreign trade in the Yangtze River Delta region?

 

I am currently located in the import bonded warehouse of Xiasha Industrial Park, China (Hangzhou) Cross border E-commerce Comprehensive Pilot Zone. After 10 years of development, a complete cross-border e-commerce industry ecosystem has been established here, gathering over 2000 cross-border service providers and goods from more than 120 countries and regions around the world, covering various categories such as maternal and child products, food, cosmetics, household appliances, etc.

 

Cross border e-commerce provides a smooth channel for "buying globally" and "selling globally"

 

As you can see, right behind me, the staff of the bonded warehouse are quickly sorting the cross-border e-commerce products that consumers have just ordered, and then carrying out the processes of packaging, labeling, and shipping. At the same time as consumers place orders, the customs clearance information of these imported goods is pushed to the customs system in the first time, and after system logic comparison, it achieves "second level" customs clearance. The person in charge of customs just told me that from mid May to mid June, the cross-border commodity shipment volume in Hangzhou Comprehensive Pilot Zone is expected to reach about 3 million orders.

 

E-commerce not only provides rich choices for domestic consumers to "buy globally", but also provides smooth channels for domestic enterprises to "sell globally". At present, the number of e-commerce sellers in Hangzhou Comprehensive Pilot Zone exceeds 65000. Products sold overseas through cross-border e-commerce platforms include clothing, shoes, hats, and other daily necessities, as well as "Chinese style" products such as oil paper umbrellas and horse face skirts, and independent brand technology products such as AR glasses and VR game consoles. More and more "Made in China" products are entering the global stage through cross-border e-commerce platforms.

 

In the first four months, the total import and export value of the Yangtze River Delta region reached 5.29 trillion yuan, a record high for the same period in history. In this good "report card", not only can we see the vigorous development of new trade forms such as cross-border e-commerce and market procurement, but also high-end equipment represented by ships, machine tools, etc. have shown a good development momentum, providing strong support for accelerating the formation of new quality productivity and strengthening the high-quality development of foreign trade in the Yangtze River Delta.

 

Machine tools are known as the "industrial mother machine", and nearly 70% of the country's machine tool exports are produced in the Yangtze River Delta region, especially high-end machine tools with high added value and high-tech content. This year, the export of high-end machine tools has exceeded 100000 units, contributing more than 50% of the total export value of machine tools in the Yangtze River Delta. This also means that the machine tool manufacturing industry in the Yangtze River Delta is accelerating towards the high-end of the industrial chain.

 

The labor-intensive products exported from the Yangtze River Delta account for nearly half of the country's total

 

In the Yangtze River Delta, the resilience and vitality of foreign trade development not only come from the high-end equipment manufacturing industry with high added value and high-tech content, but also from traditional labor-intensive industries such as textiles, clothing, furniture, toys, etc., which perform equally well. The labor-intensive products exported from the Yangtze River Delta account for nearly half of the national market share.

 

Labor intensive products are associated with a large number and wide range of private enterprises, which are also the "main force" of China's foreign trade. Customs data shows that private enterprises with export performance in the Yangtze River Delta contribute over 60% of the region's total export value, playing a stable and important role as "ballast stones".

 

Especially in Zhejiang, a province with a large private economy, I have several data in my hand: among the private enterprises in Zhejiang, there are more than 800 national level specialized and new "little giant" enterprises, nearly 200 single champion enterprises, and more than 200 AEO enterprises representing high credit levels. These enterprises achieved double-digit growth in exports in the first four months. This AEO enterprise, also known as an advanced certification enterprise, not only enjoys the convenience of customs clearance in China, but also the import and export clearance convenience provided by the customs of globally recognized countries (regions).

 

It is of great significance for our foreign trade enterprises to enhance international competitiveness and improve the global compliance level of our supply chain. Up to now, China has signed AEO mutual recognition agreements with 31 economies around the world, covering 57 countries and regions, including 38 countries co constructing the "the Belt and Road". The number of mutual recognition agreements signed and the number of countries and regions mutually recognized rank first in the world.

 

These enterprises are leading the innovative development of private enterprises in Zhejiang and providing strong support for the steady improvement of foreign trade.