Local firms ink agreements to boost global trade digitization at the CIIE
Chinese tech firms seek global cooperation, and manage to secure a number of deals during the ongoing 5th CIIE. They aim to boost the digitalization of global trade with tech upgrades in shipping and logistics, cross-border e-commerce and payment systems.
YQNLink, a Shanghai-based global logistics digital platform, signed an agreement with SpeedaF Express to explore business opportunities in markets including Africa, the Middle East and South Asia. The signing ceremony was held in YQNLink's booth in CIIE Hall 8.2.
Though facing challenges like pandemic and geopolitical uncertainty, China's trade and export in the emerging markets remain at "two-digit" growth, both sides said.
Founded in 2015, YQNLink offers digital services for global trade in shipping, cross-border e-commerce, cargo, warehousing and insurance. It is upgrading services to track and manage data for global supply chain and logistic networks for transparent and visual display. It makes "shipping management as easy as booking air tickets."
It already has cooperation with e-commerce platforms like Amazon, Walmart and eBay, to offer traders one-stop digitalized logistics services.
Yatsen Global, which operates a cosmetics e-commerce business globally, announced cooperation to strengthen research and development capabilities, at the CIIE. It signed a deal with Sun Yat-sen University in its booth to establish a joint lab on skincare and beauty.
It also showcased achievements from the research arm Open Lab, and products under the brands Galenic and EVE LOM, which are favored by customers around the globe.
During the CIIE, Shanghai-based Huifu is showcasing cross-border payment services, which help small and medium-sized enterprises to integrate into global trade, and explore global digital economy opportunities.
Huifu executives shared finance and global trade insights during the China International Cross-Border E-Commerce Development Forum of the CIIE.
Huifu, now with 10 million enterprise users, is upgrading digital global payment services with more destination markets and a richer variety of currencies.
Online tourism platform Trip, formerly known as Ctrip, expected global business travel traffic to rebound soon, the company said during the CIIE.
During the Singles Day online campaign in China, similar to the Cyber Monday event in the West, more than 750 overseas brands doubled transaction volumes in Alibaba's TMall online stores this year. The company will invest more in digitalization of logistics and supply chain in the future, as it has established 12 global core logistics network centers, Alibaba said during a CIIE Hongqiao forum on Sunday.
With digital methods like e-commerce, artificial intelligence and cloud technology, trade and the entire supply chain stability have become predictable, experts said.