E-commerce platforms play pivotal role in import expansion
China’s e-commerce platforms have been playing a pivotal role in expanding the country’s imports and stimulating domestic consumption upgrading in recent years, several reports released during the first China International Import Expo (CIIE) in Shanghai showed.
In one recent move, JD.com announced that it will import commodities valued at $14.47 billions of yuan from a number of overseas consumer brands including Germany-based Miji Electronics and Appliances, BSH Hausgeräte GmbH, Tiger, De’Longhi, Dell and Marantz.
Social media and e-commerce platform Xiaohongshu told the Global Times on Wednesday that US-based ColourPop Cosmetics has opened an online store on its site to boost sales in the Chinese market.
Bai Ming, deputy director of the International Market Research Institute under the Ministry of Commerce, told the Global Times that China’s e-commerce platforms are bridging the demands of domestic consumers with foreign brands, helping the country to import goods of “better quality” at “a faster speed.”
“Cross-border e-commerce sites are now becoming the new direction and growth drivers of China’s foreign trade,” Bai added.
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