China Unveils Draft Rules to Boost Cross-Border E-commerce

China releases draft rules to boost cross-border e-commerce and overseas warehouse construction. Companies like Shein, PDD Holdings' Temu, and Alibaba's AliExpress have experienced rapid growth in cross-border e-commerce. The draft rules aim to improve cross-border data management and optimise the supervision of cross-border exports.

Credit: REUTERS

The draft rules cover both inbound and outbound cross-border e-commerce and also focus on enhancing cross-border data management and optimising the supervision of cross-border exports.

In recent years, companies such as Shein, PDD Holdings' Temu, and Alibaba's AliExpress have experienced rapid growth by shipping made-in-China products across borders to markets worldwide. This growth has provided a new avenue for expansion for firms that were previously focused on domestic consumption, which has been hampered by a slowdown in the macroeconomy, a prolonged property crisis, and income insecurity.

The draft rules aim to facilitate the growth of cross-border e-commerce companies by streamlining financing channels and providing support for them to expand globally. The Chinese government is keen to capitalise on the success of these companies and help them tap into international markets.

One of the key aspects addressed in the draft rules is the improvement of cross-border data management. This is crucial for ensuring the smooth flow of information and transactions between different countries. By enhancing data management practices, China aims to create a more efficient and secure environment for cross-border e-commerce activities.

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• China releases draft rules to boost cross-border e-commerce and overseas warehouse construction.

• Companies like Shein, PDD Holdings' Temu, and Alibaba's AliExpress have experienced rapid growth in cross-border e-commerce.

• The draft rules aim to improve cross-border data management and optimize the supervision of cross-border exports.

Source: REUTERS