In the era of digital economy, the new cross-border e-commerce business is flourishing in China under the background of high-quality construction of “One Belt, One Road”. Cross-border e-commerce, as a new business mode of digital trade, is becoming an important force to accelerate the innovative development of foreign trade.
At a time when digital intelligence technology is constantly penetrating into various industries, the new industry represented by cross-border e-commerce is becoming an important element of knowledge-intensive service trade.
Knowledge-intensive services, referring to services that create added value with knowledge and technology as the main body, have the characteristics of superior quality of labor input, high added value and strong innovation, and can also be called services that can be delivered digitally. With the digital economy becoming a hotspot for global economic development, digital trade is constantly leading international trade to new trends, with huge potential for future growth.
On July 4, the Ministry of Commerce released data that from January to May this year, China’s trade in services continued to grow rapidly, with the total import and export of services amounting to 302.196 billion yuan, a year-on-year increase of 16%. Service trade deficit of 582.84 billion yuan. Among them, the knowledge-intensive services import and export 118.989 billion yuan, an increase of 6%, continue to maintain the growth trend.
Digital trade is becoming an important force for China to reorganize its factor resources, optimize its foreign trade structure, and comprehensively shape new advantages in development. Vigorously developing digital trade is of great significance to accelerating the construction of a trade powerhouse.
The Central Economic Work Conference held at the end of last year proposed that “we should accelerate the cultivation of new dynamics in foreign trade, consolidate the basic plate of foreign trade and foreign investment, and expand the trade in intermediate goods, trade in services, digital trade, and cross-border e-commerce exports.”
Under the active promotion of relevant policies, this year, China’s e-commerce has played a positive role in promoting the recovery of consumption to the good, promoting the integration of digital reality, expanding international economic and trade cooperation, and the level of digitization in the field of commerce has been continuously improved. The in-depth implementation of the Three-Year Action Plan for Digital Commerce (2024-2026), and the joint issuance of the Opinions on Expanding Cross-border E-commerce Exports and Promoting the Construction of Overseas Warehouses by Multiple Departments (hereinafter referred to as the “Opinions”)… …In the first quarter, China’s cross-border e-commerce accounted for the proportion of exports increased to 7.8%, pulling export growth of more than 1 percentage point.
The active development of cross-border e-commerce, overseas warehouses and other new forms of foreign trade proposed in the Opinions to promote the optimization of the structure and stability of the scale of foreign trade is a positive initiative to stabilize foreign trade. The good performance of China’s exports relies on both external demand to remain resilient and on strong competitiveness.
At present, China’s cross-border e-commerce trading partners have covered the world, and it is one of the countries with the most complete cross-border e-commerce ecosystem in the world.
In recent years, China’s digital technology and the real economy have continued to integrate, and in the field of consumption, new consumer formats and application scenarios, such as online games, online literature, online education, and so on, have continued to emerge, stimulating the development potential of digital trade. China has actively seized the development opportunities, continuously accelerated the process of digitization of trade in services, promoted the continuous growth of digital trade in services, and injected new kinetic energy into the development of foreign trade.
Source: Reference News Network
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