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Cross-border e-commerce booms in Zhejiang

(ezhejiang.gov.cn) Updated : 2020-06-12

Zhejiang province saw strong growth in cross-border e-commerce in recent years.

In 2015, Zhejiang became the first province in China to have a comprehensive cross-border e-commerce experimental zone when it established one in Hangzhou. It is now home to 10 comprehensive cross-border e-commerce experimental zones, more than any other province in China.

According to statistics from the province's commerce department, cross-border e-commerce retail sales in Zhejiang totaled 105.15 billion yuan ($14.82 billion) in 2019, up 29.8 percent year-on-year. Exports grew 35.3 percent to 77.71 billion yuan and imports grew 16.3 percent to 27.44 billion yuan. Around 97,000 online stores were active on mainstream cross-border e-commerce platforms, an increase of 15,000 over the previous year.

Cross-border e-commerce played an important role in the province's effort to stabilize foreign trade and promote digitalization during the COVID-19 epidemic.

Statistics show that cross-border e-commerce retail sales in Zhejiang were valued at 24.2 billion yuan over the first three months of this year, up 14 percent year-on-year. Exports grew 8.9 percent to 17.79 billion yuan and imports grew 31 percent to 6.41 billion yuan.