China’s cross-border e-commerce continued to grow rapidly in the first quarter of this year. The import-export of foreign trade increased by 4.8 percent over the same period last year. The Chinese Ministry of Commerce, along with relevant departments, will take various measures to promote the development of foreign trade. Vice Minister of Commerce Wang Shouwen said that the Ministry of Commerce supports enterprises to expand the diversified market and will solve the problems existing in market expansion in the countries along the Belt and Road.
China has remained the world’s second largest import market for 14 consecutive years. Wang Shouwen said that China will continue to increase imports, stabilize the scale of foreign trade and improve the structure. There was a sharp increase in cross-border e-commerce in foreign trade. Nowadays all countries are developing cross border e-commerce. According to the World Trade Organization, in the year 2026, the growth rate of B-to-C cross-border e-commerce in the world will be 27 percent.
(Credits- China Media Group, Beijing)
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