Digital trade in the Jinyi Area of the China (Zhejiang) Free Trade Zone in Jinhua totaled 41.37 billion yuan ($5.77 billion) from January to July this year, according to local media outlets.
The Jinyi Area has been making efforts to promote the digital transformation of traditional trade, and improve the construction of support systems for digital trade formats such as cross-border e-commerce.
Chinagoods, an online wholesale platform affiliated with the Yiwu International Trade Market, has promoted international trade of small commodities during the global COVID-19 epidemic.
Buyers are able to search, order and pay for products from Yiwu through the online platform, which helps local merchants open overseas markets and reduce costs.
The online platform now has over 2.55 million registered users and 55,000 online merchants. It has provided services for online transactions worth 29.8 billion yuan in total.
The first return center warehouse for imports via cross-border e-commerce was launched in the Jinyi Comprehensive Bonded Zone on May 17.
Tao Xingda, warehousing operation manager of Jinhua Daita Supply Chain Co, said that returned goods can be shipped directly to the new warehouse, where all return procedures can be completed under Customs supervision, which saves the company 300,000 yuan in costs each year.
In addition, from January to August this year, Yiwu has cultivated and cooperated with 224 overseas warehouses in 52 countries with a total operating capacity of over 1.67 million square meters.
