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CIIE opens logistics channels for imports, benefits cross-border e-commerce

(People's Daily Online)    10:05, November 12, 2018

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Among the seven exhibition areas of the ongoing China International Import Expo (CIIE) in Shanghai, the Trade in Services area is the only one without physical goods. Yet its significance can be seen from its scale, which covers an area of 30,000 square meters and brings together more than 450 service trade enterprises from 90 countries and regions.

US logistic giant FedEx is one of the major service traders attending CIIE. In its 180-square-meter booth, a FedEx 777 freighter model is on display, providing visitors with an immersive experience to learn more about FedEx’s all-round global import logistics services and solutions.

FedEx announced before the Expo that it would optimize a series of transportation solutions to imported cargo in the Chinese market and support the development of China’s import trade with innovative technologies and efficient services.

Imports to China can be processed much faster now, in about two hours instead of the 1-3 days it took in the past, and it’s possible to send packages to China the next day.

Thanks to cooperation with local customs, the improved transportation solutions also include “one-stop” customs clearance for cross-border e-commerce, which enables more efficient customs clearance and instant transportation.

Statistics from the UN Conference on Trade and Development shows that the proportion of China’s global trade in services rose from 11.42% to 15.59% from 2005 to 2016.

After joining the World Trade Organization, China’s services trade has grew rapidly. The total volume of imports and exports of the country’s services trade increased from $67.4 billion to about $696 billion from 2001 to 2017, achieving more than 10 times of growth.

“If Chinese companies want to further participate in the international division of labor and cooperation and enhance their status in the global value chain, then developing services is indispensable,” said Zhao Liqiang, global partner of Bain & Company.

The Expo is an important measure for the country to promote trade liberalization and economic globalization, said Liu Jianghong, general manager of Shopee’s cross-border business.

Liu believes that the advantages of Chinese products in terms of quality and scale have made them very popular all over the world, especially in Southeast Asia. With the support of the Belt and Road Initiative, consumers will also further help Chinese sellers to explore overseas markets more efficiently.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Jiang Jie, Bianji)

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