China’s cross-border e-commerce trade turnover grew 80% from a year earlier

Beijing. February 13. Silkroadnews - China’s cross-border e-commerce trade turnover grew 80% from a year earlier, SINA English news portal reported.
“CROSS-BORDER e-commerce trade has been flourishing in China, with turnover rising 80.6 percent from a year earlier to 90.24 billion yuan (US$14.33 billion) last year,” the report said.
The sector’s average annual growth rate in the last three years is more than 50%, said Yu Guangzhou, head of China’s general Administration of Customs (GAC).
With this, in the field of e-commerce in China, exports grew 41.3% up to 33.65 billion yuan, while imports rocketed by 116.4% and amounted to 56.59 billion yuan.
Chinese customs processed 660 million declarations for e-commerce trade last year, which is 8.4 times more than for conventional imports and exports.
On November 11, the Singles’ Day online shopping festival, Chinese customs processed a total of 16.2 million orders, about 187 per second.
Yu Guangzhou said that China’s customs authority would continue to boost the amount of cross-border e-commerce.
China’s Ministry of Commerce said that since 2016 China has been trading online with 220 countries and regions around the world.