Among China’s cross-border e-commerce export destinations in 2022, the United States accounts for 34.3 percent of the market and the United Kingdom accounts for 6.5 percent. The main exports include clothing, shoes, bags and electronic products.
Japanese products account for 21.7 percent of China’s total imports of cross-border e-commerce in 2022, while American products account for 17.9 percent of them.
Consumer goods account for 92.8 percent of exports and 98.3 percent of imports, according to the report.
Since the beginning of this year, China’s cross-border e-commerce has continued to maintain its growth momentum, said Liu Daliang, an official with the General Administration of Customs.
“The survey conducted by the department showed that more than 70 percent of enterprises expect stable and growing cross-border e-commerce in 2023,” Liu said.
Newly released official figures showed that China’s foreign trade grew by 4.8 percent year on year during the first quarter of 2023, driven by an improvement in the value of exports.
According to data from the Chinese General Authority of Customs, foreign trade (total exports and imports) rose to 9.89 trillion yuan ($1.44 trillion).
Chinese exports rose during the first quarter of the year by 8.4 percent year-on-year to 5.65 trillion yuan ($821 billion).
On the other hand, the value of imports increased by 0.2 percent to 4.24 trillion yuan ($616 billion) in the first quarter of this year.
According to the data, foreign trade improved after declining 7 percent year on year in January due to the Spring Festival holiday, then recovered to an 8 percent expansion in February before reaching 15.5 percent in March.
China’s trade registered a surplus of 88.1 billion dollars in March, while it was 116.8 billion dollars in the January-February period.
On Tuesday, the International Monetary Fund expected the Chinese economy to grow by 5.2 percent in 2023 and 4.5 percent in 2024, noting that the Chinese economy is witnessing a rapid reopening with a strong recovery.
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