Cross-border e-commerce gives boost to Ningbo's open economy

Ningbo Customs staffs check imported goods at Ningbo Bonded Area. [Photo/Ningbo Bonded Area]

Ningbo has high expectations on cross-border e-commerce cementing and raising its position in international economic exchanges, according to the city's commission of commerce.

The data from Ningbo's cross-border e-commerce bureau showed that from this January to September, the city has achieved a total volume of 40.82 billion yuan ($6.16 billion) in cross-border e-commerce, a year-on-year increase of 113.49 percent. It is estimated that the number for the whole year will surpass $8 billion.

The cross-border e-commerce is a trade mode directly linking buyers and sellers, and its transaction process generates a lot of trade data which might be useful for future plan, said an official from the commission.

Hu Hangbo, general manager of Ningbo Zhengzheng Electronic Commerce, thought the e-commerce is an effective way to open up more channels for international consumption. "Based on Ningbo's abundance of port resources and its open economic pattern, e-commerce could make it easier for Chinese consumers to get goods from across the globe," Hu said.

Ningbo Magyar Imports and Exports Co Ltd is a beneficiary from the city's increasingly frequent trade with Central and Eastern European (CEE) countries in recent years. Ying Jianfeng, manager of Magyar, said the imports and exports with CEE countries are of great potential. The cross-border e-commerce, the overseas investments and the going-out of Chinese capital and technologies can help Ningbo further explore the CEE market and facilitate the city's development of open economy.

A good e-commerce platform, providing services for Ningbo's traditional foreign trade and manufacturing companies, could help increase their transaction volumes, according to Wu Xiangjin, operation director of Ningbo branch of Alibaba International, a global trade platform.

The e-commerce giant Alibaba has created a more interconnected system in Ningbo, covering the sectors of transactions, services, finance and logistics. Moreover, it promotes cooperation with local companies, colleges and universities, financial agencies and government departments to facilitate the international trade.

Goods at the cross-border e-commerce warehouse of Ningbo Bonded Area are transported in order during the Singles Day shopping carnival. [Photo/Ningbo Daily]