China has approved the establishment of comprehensive pilot zones for cross-border e-commerce in 33 additional cities and regions, as part of its efforts to boost foreign trade growth.
This constitutes the seventh group of pilot areas, bringing their total number to 165 in the country.
Many of the global cross-border e-commerce pilot areas in the latter group are located in central and western China, as well as the country’s border areas.
The pilot areas are expected to help facilitate the transformation and upgrading of traditional industries, as well as optimize and upgrade foreign trade.
China’s cross-border e-commerce has grown rapidly in recent years. Its trading volume has increased nearly tenfold over the past five years, reaching 1.92 trillion yuan (regarding $269.14 billion) in 2021. In the first half of 2022, the market recorded a growth of 28 .6% over one year in terms of sales volume.