Cross-border e-commerce event to kick off in Guiyang

Guiyang, capital of Southwest China's Guizhou province, will hold an investment promotion event for cross-border e-commerce between 3 pm and 4 pm on June 8.

It is the first event in Guiyang's 2020 online foreign investment promotion push, and will be held both online and offline in order to introduce Guiyang's cross-border e-commerce comprehensive pilot area and international logistics and cross-border e-commerce demonstration area.

Invitations have been sent to 300 well-known cross-border e-commerce companies across the country, with the event set to release and sign 100 overseas investment projects. It is also expected to help create a sound business environment and enhance Guiyang's opening-up.

Developing cross-border e-commerce and utilizing foreign capital are key elements of Guiyang's approach to participating in the construction of the New Land-Sea Corridor and western region development.

Statistics show that in 2019, Guiyang cross-border e-commerce's business-to-customer and business-to-business trade volume totaled about $200 million, an increase of 95.2 percent.

By 2022, Guiyang's annual cross-border e-commerce trade volume is estimated to exceed $1.5 billion; its cross-border e-commerce industrial park will have over 300 foreign trade enterprises; and about 40 percent of its export companies will apply for cross-border e-commerce.

Since becoming a cross-border e-commerce comprehensive pilot area in 2018, Guiyang has set 70,000 square meters of bonded warehouses and 8,000 sq m of supervised warehouses for cross-border e-commerce, as well as over 2,000 sets of pallet racking.

Guiyang has also achieved 20 million yuan ($2.81 million) of import and export business through its international mail exchange center, realized 16-hour cross-border goods delivery between Guiyang and Hong Kong, and built 147,000 sq m of 18 overseas warehouses in the United States, Australia, Thailand and Kenya.