Cross border e-commerce growth triangle foreign trade 'new pivot', still needs to pay attention to compliance and supply chain risks

Original article: May 27, 2024 18:10 · 21st Century Business Herald

21st Century Business Herald reporter Zhang Zitong reports from Shanghai

The foreign trade data of the Yangtze River Delta has reached a new high.

According to Shanghai Customs, in the first four months of this year, the total import and export value of foreign trade in the

 Yangtze River Delta region reached 5.04 trillion yuan, a record high in scale, with a year-on-year growth of 5.6%,

 accounting for 36.5% of the country's total import and export value. Among them, the import and export to countries 

jointly building the "the Belt and Road" was 2.26 trillion yuan, up 7.6% year on year, accounting for 34.5% of the total 

import and export value of countries jointly building the "the Belt and Road" in the same period.

It is worth noting that while the scale of foreign trade is steadily increasing, new forms of foreign trade such as 

cross-border e-commerce in the Yangtze River Delta are also flourishing.

Recently, it was learned from Suzhou Customs that in April of this year, the cross-border e-commerce imports and

 exports declared by Suzhou through the customs management platform reached 1.94 billion yuan, an increase of 67.7%, setting a new historical high.

In terms of policies, on May 25th, the State Council issued the "Opinions on Expanding Cross border E-commerce Exports and 

Promoting Overseas Warehouse Construction". The document release meeting pointed out that the development of new 

foreign trade formats such as cross-border e-commerce and overseas warehouses is conducive to promoting the optimization 

of foreign trade structure, stable scale, and creating new advantages for international economic cooperation. 

We should actively cultivate cross-border e-commerce operators, 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 training, provide more display and docking platforms for enterprises, and continue to promote brand building.

The Yangtze River Delta has a strong industrial foundation, and traditional electric tools, garden machinery, 

and other industries have formed industrial belts with good business breakthroughs. At the same time,

 businesses in cultural and creative industries, stationery, 3C small appliances, and other fields have also made good progress.

 ”Du Yuwei, Deputy Director of the Institute of Social Policy at Jiangsu Academy of Social Sciences, 

Vice President of Jiangsu Regional Modernization Research Institute, and researcher, recently stated in 

an interview with reporters that the Yangtze River Delta region is an important landmark of "Made in China".

 At present, while balancing the transformation and upgrading of traditional industries and the cultivation 

and growth of emerging industries, we need to take a global perspective and strive to build an internationally competitive

 industrial chain cluster, becoming the "vanguard" of China's cultivation of world-class industrial clusters.