B2B foreign trade sees online increase

An increasing number of traditional foreign trade enterprises are resorting to cross-border e-commerce to grasp business opportunities amid the pandemic, industry statistics show.

The B2B (business-to-business) cross-border market in China will hit 13.9 trillion yuan ($1.9 trillion) by 2025, and around 80 percent of B2B business' will turn online globally, according to a report by China Center for International Economic Exchanges.

This trend is also confirmed by a recent online expo by Made-in-China.com, a platform for Chinese foreign trade enterprises. According to official real-time data, the traffic of its online venue from Oct 15th to Oct 31st increased by more than 290 percent year-on-year, and the volume of purchase orders and the number of merchants who received orders all achieved a multi-digit increase. The transaction value of the 15-day online expo jumped 580 percent year-on-year.

Meanwhile, Made-in-China.com also sent two professional business teams on Monday to embark on routes to Europe and Southeast Asia to launch the offline activities of the Golden Autumn Fair, which is known as a weather vane for overseas buyers' needs, devoting to match the quality goods of suppliers with overseas quality buyers.

In offline activities, Made-in-China.com will participate in METALEX 2022, the most influential professional trade exhibition in Southeast Asia for machine tools and metalworking technology, and MEIDCA, the world's largest and most influential exhibition for hospitals and medical equipment in Dusseldorf, Germany.

He Jingwei contributed to this story