On Tuesday, China issued draft rules aimed at promoting the construction of overseas warehouses and expanding cross-border e-commerce businesses, which have become a crucial component of its foreign trade, according to the Chinese commerce ministry.
Companies such as Shein, PDD Holdings’ Temu, and Alibaba’s AliExpress, which primarily ship made-in-China products to markets worldwide, have seen rapid growth in recent years.
This expansion has created a new growth avenue for firms that were previously focused on domestic consumption, which has been subdued by macroeconomic slowdowns, a prolonged property crisis, and income insecurity.
The commerce ministry’s announcement, covering draft rules for both inbound and outbound cross-border e-commerce, stated that it would also aim to improve cross-border data management and optimize the supervision of cross-border exports.
Additionally, national ministries and government departments will facilitate financing channels and support cross-border e-commerce companies in their efforts to “go global,” the ministry said.
