Chinese firms move for greater cross-border e-commerce development

Zhu Shenshen / SHINE

Chinese firms are eyeing business opportunities like cloud and e-payment for cross-border e-commerce and global trade, with demands expected to rebound during the traditional peak season of the fourth quarter, Shanghai Daily learned.

Huawei Technologies will kick off a special business-to-business cloud platform in November for cross-border e-commerce firms. The tech giant will offer globalization and tech capabilities for clients, covering overseas regulation compliance, digital marketing, immersive shopping, Non-Fungible Tokens or NFT collections, and digital avatars.

Currently, 90 percent of Chinese top 50 e-commerce firms are using Huawei's various services, such as Vipshop and Mengshang.

The e-commerce industry has entered a new era with challenges like high-cost traffic, supply-over-demand and the pandemic. Huawei will help clients find global opportunities and new growth engines, said Zhang Xiuzheng, Huawei Cloud's Chinese president.

Facing pandemic challenges, China's e-commerce cross-border market is still growing, though with a lower growth rate. But double-digit growth is still relatively high this year, according to the Shanghai Cross-border E-commerce Association.

The fourth quarter is normally peak season for e-commerce with the Black Friday and Double Eleven shopping festivals, bringing the entire industry chain various opportunities, said Huifu, a Shanghai-based payment firm.

Huifu, now with 10 million enterprise users, is upgrading digital global payment services, with more destination markets and a richer variety of currencies, the company said on Tuesday in Shanghai.

Currently, its majority overseas payment volume comes from Europe and the United States. But it's eyeing big growth potential in Asia, said Jiang Jingyu,chairman of Huifu's international business.

Zhu Shenshen / SHINE