China to encourage import goods sales
China will continue to encourage new means of import goods sales such as those through online channels to boost domestic consumption, according to the Ministry of Commerce.
It is working with relevant government authorities to optimize regulatory measures for cross-border import sales and will continue to encourage innovative methods as well as inclusive policy schemes to ensure stable transition when a pilot program turns into official rules, Qian Fangli, director general of the ministry's e-commerce and information department, told a press briefing at the China International Import Expo on Wednesday.
Cross-border e-commerce sales in the first eight months of this year reached 48.97 billion yuan. Last year the total transaction size stood at 56.59 billion yuan, 1.2 times more than the year before.
China has also established bilateral trade mechanisms with 15 countries to boost e-commerce and promote collaboration, Qian said, and China’s online retailing channel has been an important means to broaden the range of products available for consumers.
Online retailers have ambitious plans to source import merchandise ranging from food, personal care and beauty products to cater to the demand for high-quality international products.
E-commerce giant Alibaba Group has made a commitment to help import US$200 billion worth of goods from more than 120 countries over the next five years.
“Globalization is one of Alibaba’s most critical long-term growth strategies. We are building the future infrastructure of commerce to realize a globalized digital economy where trade is possible for every country around the world,” said Daniel Zhang, the group's CEO.
“Leveraging Alibaba’s innovative technology and robust ecosystem, we are committed to making global trade more inclusive and fulfilling our mission ‘to make it easy to do business anywhere’ in the digital era," he added.
The top countries for Alibaba’s import efforts include Germany, Japan, Australia, the US and South Korea.
It's fresh food supply chain affiliate Win-Chain plans to establish partnerships with 100 suppliers worldwide to source produce from 40 countries such as Denmark, Mexico, Brazil, New Zealand and Argentina.
According to a joint report by Deloitte China, the China Chamber of International Commerce and AliResearch, China’s economic growth in recent years has increased the number of middle-to-high income consumers, who are fueling the demand for imported, quality goods.
The proportion of imports to total e-commerce sales soared to 10.2 percent in 2017 from just 1.6 percent in 2014. Between 2014 and 2017, the number of shoppers on Alibaba’s cross-border shopping platform, Tmall Global, has grown 10-fold.
NetEase’s import unit Kaola and Suning Commerce Co are among the companies signing contracts with overseas merchants.
Suning Holding Group vice president Sun Weimin said it will purchase 120 billion yuan worth of import goods during the CIIE and introduce 5,000 overseas brands to the domestic market.
NetEase's cross-border import goods platform Kaola said it welcomes stable policies regarding the cross-border retailing scheme which would further enhance the role of e-commerce in boosting consumption.
Kaola seeks to expand its bonded warehouse to 1.8 million square meters, nearly doubling its existing space and to speed up delivery times with more efficient logistics operations.
NetEase has signed purchasing contracts worth 20 billion yuan at the CIIE, and CEO William Ding expects the total amount of imported goods sourced in the coming years to exceed US$20 billion.
In the first half this year, it entered into strategic partnerships with 50 brands and suppliers worldwide.