Digital Technologies Boost Foreign Trade Development

In the first half of the year, China’s foreign trade rose 27.1 percent year on year, a record high. During this period, the country’s cross-border e-commerce trade increased by 28.6 percent, and market procurement exports were up 49.1 percent. In addition, Chinese companies had established more than 1,900 overseas fulfillment centers.

While gaining sound development in its foreign trade, China witnessed flourishing of new technologies in the sector. The AI technology has enabled real-time translation of livestreaming contents. Mechanical equipment can be diagnosed and fixed in a remote manner. Products like milk can be traced throughout their production life cycle from the manufacturing to the packaging, transportation, and sales. More and more export-oriented businesses are embracing digital transformation to better serve customers at home and abroad.

New digital technologies and tools are optimizing all aspects of the foreign trade process. Digital exhibitions, e-commerce on social media platforms, crowdfunding for new products, and big data marketing, among others, are becoming important means of digital marketing.

Some places have set up online platforms to integrate custom clearance, transportation, and trans-shipment among other services, bringing the logistics costs down by 30 percent. Other enterprises have grown more competitive as they harness big data to process global products and orders in a more efficient manner.