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As a new form of foreign trade that develops rapidly, cross-border e-commerce has become a new driving force for the high-quality development of China's foreign trade.
The country's cross-border e-commerce enjoyed rapid development in 2022, the Ministry of Commerce (MOFCOM) said recently. The import and export volume of China's cross-border e-commerce reached 2.11 trillion yuan (about $294.67 billion) in 2022, up 9.8 percent year on year, according to data from General Administration of Customs.
In late November 2022, China's State Council approved the establishment of comprehensive pilot zones for cross-border e-commerce in another 33 cities and regions. It marked the seventh batch of comprehensive pilot zones for cross-border e-commerce set up in the country, bringing the total number of such pilot zones to 165.
Nowadays, these pilot zones have become an ecosystem and carrier for the development of cross-border e-commerce featuring synergetic innovation in institutions, management and services. They have set up information sharing, financial service, smart logistics, credit, statistical monitoring and risk prevention systems, as well as a policy framework centering on the online platform of single window services and brick-and-mortar industrial parks. Besides, nearly 70 items of mature experiences and innovative practices have been promoted nationwide.
Hangzhou, capital of east China's Zhejiang Province, is home to the country's first comprehensive pilot zone for cross-border e-commerce. Over the past seven years, the city has nurtured 49,000 cross-border e-commerce sellers who have registered over 2,000 trademarks overseas and reported a total trade value of more than 100 billion yuan.
Meanwhile, a growing number of Chinese consumers are buying global products through cross-border e-commerce channels.