Multiple govt measures boost foreign trade firms

To promote cross-border e-commerce transactions, the Ministry of Commerce increased test zones for cross-border e-commerce from 59 to 105 this year. Imports and exports through the cross-border e-commerce management platform of customs jumped 34.7 percent in the first quarter, while exports through market procurement soared 50.9 percent during the same period.

Trade volume of imports and exports through the cross-border e-commerce management platform of customs hit 71.7 billion yuan in the Jan-May period, up 20.9 percent on a yearly basis, the report said.

Shenzhen Soten Technology Co Ltd obtained a $3.46 million order through the international platform of e-commerce giant Alibaba on May 11, the largest overseas order of the company.

We inked this deal, which was worth tens of millions of yuan, without even meeting each other, Luo Chang, general manager of the company, shared on his WeChat moments.

All these achievements can be attributed to the use of digital high-tech products such as 3D factory inspection and video conference simultaneous interpretation on cross-border e-commerce platforms.

Digital technology has accumulated unique credit records for buyers and sellers, creating a commercial foundation for a new form of foreign trade, said Zhang Kuo, general manager of Alibaba International platform.

New foreign trade formats such as cross-border e-commerce are an important direction for the transformation and upgrading of foreign trade, though its current proportion is relatively small, Sang Baichuan, dean of the international economics institute of the University of International Business and Economics, said.