China’s cross-border e-commerce trade up 80% in 2017

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China’s cross-border e-commerce trade saw a boom in 2017, with year-on-year growth in turnover of more than 80%.

Official data indicates that turnover from China’s cross-border e-commerce trade rose to 90.24 billion yuan in 2017, for a rise of 80.6% compared to the year previously.

Yu Guangzhou, head of China’s General Administration of Customs, said at the first Global Cross-Border E-commerce Conference in Beijing that the agency processed 660 million manifests for e-commerce trade in 2017, or 8.4 times the amount for conventional imports and exports.

According to Yu the average annual growth rate for the e-commerce sector has been in excess of 50% for the past three years.

In 2016 e-commerce exports posted growth of 41.3% to hit 33.65 billion yuan, while imports surged by 116.4% to hit 56.59 billion yuan.

On November 11, which is the Singles’ Day online shopping event, China’s customs office processed around 187 orders per second, for 16.2 million in total.

China’s customs agency said that it will continue to support cross-border e-commerce, as well as improvements to services for Chinese nationals purchasing overseas products via the Internet.

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