China to promote overseas warehouse construction

China will push for the release of guidelines on expanding cross-border e-commerce exports and promoting the construction of overseas warehouses, He Yadong, spokesperson for the Ministry of Commerce, said during a recent press conference.

Highlighting the pivotal role of cross-border e-commerce in China's foreign trade growth, He emphasized the sector's exponential expansion over the past five years.

The forthcoming strategy aims to empower industrial development by leveraging China's 165 comprehensive cross-border e-commerce pilot zones and encouraging more enterprises to engage in international trade through digital platforms. Key objectives of this strategy include nurturing leading enterprises in the e-commerce chain, facilitating digital transformation for small and medium-sized businesses, and fostering self-regulation in the industry.

In the first quarter of this year, China's cross-border e-commerce trade surged to 577.6 billion yuan ($81.23 billion), with exports reaching 448 billion yuan, marking a 14 percent year-on-year increase. Nationally, the cross-border e-commerce landscape boasts over 120,000 entities, 1,000 industrial parks, and more than 2,500 overseas warehouses that cover a total of 30 million square meters. Of this total, 1,800 warehouses are dedicated to supporting cross-border e-commerce and span approximately 22 million sq m.