Cross-border E-commerce Increased Nearly 10 Times in 5 Years

Cross-border e-commerce has now become an important support for Chinese stable foreign trade. According to official statistics, Chinese cross-border e-commerce imports and exports in 2020 were RMB 1.69 trillion yuan (USD $260 billion), up 31.1% year-on-year, much higher than the 1.9% growth rate of Chinese foreign trade that year. In the first quarter of this year, the customs cross-border e-commerce import and export reached RMB 419.5 billion yuan (USD $65 billion), up 46.5% year-on-year, contributing 7% to the growth of imports and exports. (Source: Chinanews)