Favorable Policies on Cross border e-commerce exports

Recently, the Executive Meeting of the State Council approved the "Opinions on Expanding Cross border E-commerce Exports and Promoting Overseas Warehouse Construction" (hereinafter referred to as the "Opinions"). The meeting pointed out that developing new forms of foreign trade such as cross-border e-commerce and overseas warehouses is conducive to promoting the optimization of foreign trade structure and stable scale, and is conducive to creating new advantages in international economic cooperation.

In terms of specific measures, the meeting pointed out the need to actively cultivate cross-border e-commerce business entities, encourage local governments to support traditional foreign trade enterprises in developing cross-border e-commerce based on their unique advantages, strengthen cross-border e-commerce talent cultivation, provide more display and docking platforms for enterprises, and continue to promote brand building. We need to increase financial support, strengthen the construction of relevant infrastructure and logistics systems, optimize supervision and services, and actively carry out standard rule construction and international cooperation. We need to strengthen industry self-discipline, guide orderly competition, and better empower the development of the upstream and downstream of the industrial chain.

Experts believe that the Opinion confirms the continuous improvement of policy support for cross-border e-commerce and overseas warehouses, which has positive significance for the development of cross-border e-commerce and the transformation of traditional foreign trade enterprises.

Promote the digital transformation of traditional foreign trade enterprises

According to Hong Yong, a think tank expert at the China Digital Real Integration 50 Person Forum, the adoption of the Opinion has profound positive significance for the development of cross-border e-commerce and the construction of overseas warehouses. Firstly, it is clear that the national level attaches great importance to and supports the new forms of cross-border e-commerce, providing clear development directions and policy guarantees for the industry, and enhancing market confidence. Secondly, it not only promotes the digital transformation of traditional foreign trade enterprises, but also stimulates the growth vitality of emerging e-commerce enterprises, helping to form a more diverse and competitive market entity pattern. Furthermore, it has created a more convenient and efficient operating environment for cross-border e-commerce, reduced transaction costs, and improved the overall operational efficiency of the industrial chain.

Bai Wenxi, Vice Chairman of the China Enterprise Capital Alliance, believes that the construction of overseas warehouses can help improve the logistics efficiency of cross-border e-commerce, reduce logistics costs, and promote the scale growth and structural optimization of cross-border e-commerce; At the same time, it helps to enhance China's position in the international supply chain and trade network, enhance China's influence in the global value chain, and thus create new advantages in international economic cooperation. In addition, it will attract more traditional foreign trade enterprises to participate in cross-border e-commerce, which is conducive to cultivating more cross-border e-commerce operators.

The latest research report of Guotai Junan pointed out that the Opinion is a continuation of previous policies, confirming the continuous increase in policy support for cross-border e-commerce and overseas warehouses.

The 2024 government work report proposes to promote the healthy development of new formats such as cross-border e-commerce, optimize overseas warehouse layout, and support the upgrading of processing trade. In January of this year, Wang Shouwen, the International Trade Negotiation Representative and Deputy Minister of the Ministry of Commerce, stated at a press conference held by the State Council Information Office that he will continue to cultivate cross-border e-commerce as a new driving force for foreign trade, develop a "cross-border e-commerce+industrial belt", encourage traditional foreign trade enterprises to transform into cross-border e-commerce, and introduce "Several Measures to Expand Cross border E-commerce Exports and Promote Overseas Warehouse Development". Cross border e-commerce is experiencing new development benefits. Optimize overseas warehouse layout

According to data from the General Administration of Customs, in 2023, the number of people participating in cross-border e-commerce imports in China reached 163 million. Cross border e-commerce imports and exports amounted to 2.38 trillion yuan, an increase of 15.6%, of which imports amounted to 548.3 billion yuan, an increase of 3.9%. In the first quarter of this year, China's cross-border e-commerce imports and exports increased by 9.6%, with overseas warehouse exports of cross-border e-commerce growing by 11.8%. The cultivation of new formats and models has accelerated.

Zhejiang Securities pointed out that overseas warehouses serve as "pre warehouses", localizing cross-border e-commerce logistics services such as shipping, returns, and exchanges, improving transportation efficiency, and ensuring user experience stability. At the same time, overseas warehouses are also an important overseas node for cross-border e-commerce, a new type of foreign trade infrastructure, and an important platform for driving foreign trade growth and achieving high-quality development. The government has introduced policies and measures in the field of overseas warehouses, which will continue to promote the construction and development of overseas warehouses.

It is worth mentioning that in recent years, due to its obvious advantages, the overseas warehouse model has been increasingly widely used in the field of cross-border e-commerce in China. According to recent data from the Ministry of Commerce, there are currently over 2500 overseas warehouses in China.

It is reported that the 135th Canton Fair, held recently, is the first trial to set up a cross-border e-commerce comprehensive trial area and an overseas warehouse display area in the Canton Fair Hall. The online platform will promote 165 cross-border e-commerce comprehensive trial areas, promoting the linkage and mutual promotion between traditional exhibition formats and new formats.

Vice Minister of Commerce Guo Tingting introduced at the press conference of the State Council Information Office that she will continue to improve the layout of overseas warehouses, support foreign trade enterprises and logistics enterprises to make good use of these overseas warehouse resources, enhance professionalism, scale, and intelligence, and make more high-quality Chinese products more convenient to reach overseas consumers.