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Industry

Cross-border e-commerce advances the development of China's service trade

June 27, 2018


Abstract : The traditional international trade model is being changed by the Internet. The advantages of China's cross-border e-commerce will become an important starting point for promoting the development of China's service trade.

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BEIJING, June 27 (Xinhua) -- The traditional international trade model has been changed by the Internet. The advantages of China's cross-border e-commerce will become an important starting point for promoting the development of China's service trade and improving the comprehensive competitiveness of trade, representatives who attended the Belt and Road Initiative New Opportunities for Industrial Export and Supply Chain Summit 2018 said.

Cross-border e-commerce can reconstruct new production relationships in international trade. The scale of cross-border e-commerce in China ranks first in the world. This advantage can help China’s foreign trade companies do innovative trade patterns, and develop high-value-added service trade, experts said at the summit recently held in Shenzhen, a high-tech hub in south China's Guangdong province.

According to the statistics released by the General Administration of Customs, the goods trade surplus reached 99.67 billion U.S. dollars in the first five months. However, data released by the Ministry of Commerce previously showed the deficit in service trade in the first four months has reached 88.24 billion U.S. dollars. This shows that there is an imbalance in China's trade in goods and services, and it also shows that Chinese enterprises have not obtained high added value in trade.

Giving priority to the development of trade in services is an important measure to promote economic transformation and upgrading and high-quality development.

Chen Haiquan, director of Asia-Pacific E-commerce Institute, said that the development of cross-border e-commerce to promote the liberalization and facilitation of international trade is conducive to transforming the overall competitiveness of foreign trade development methods. The importance of developing cross-border e-commerce is a potential driving force for stabilizing foreign trade growth and an important engine for innovation-driven development. (Edited by Ma Xin, maxin11@xinhua.org )

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Keyword: Belt-and-road e-commerce

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