ZHUHAI, China, Oct. 16, 2024 (GLOBE NEWSWIRE) -- On October 8 and 9, the Global Cross-border E-commerce Annual Meeting (Zhuhai - Hengqin) 2024 was successfully held in Hengqin, Zhuhai. About 1,500 participants discussed industrial development and ecosystem building under the theme of "New Highland, New Advantages, and New Momentum," with a focus on industry opportunities and global trends.
During the event, the Cross-border E-commerce Association and the Cross-border E-commerce (Huafa) Innovation Industrial Park of the Guangdong-Macao In-depth Cooperation Zone in Hengqin were inaugurated. Moreover, attending enterprises jointly launched the Hengqin Initiative for the Development of the Global Cross-Border E-Commerce Industry, aiming to create a global cross-border e-commerce ecosystem characterized by openness, innovation, cooperation, and win-win outcomes.
At the two-day conference, international experts shared insights into industry trends and expressed optimism about further cooperation between China and the international community. Hundreds of companies in the industry participated in the event to exchange ideas and explore new opportunities. Economic globalization is an objective requirement for productivity growth and an unstoppable historical trend. As an innovator of trade patterns, cross-border e-commerce is reshaping the global trade landscape.
According to data from the General Administration of Customs of China, in the first half of this year, China's cross-border e-commerce imports and exports totaled 1.22 trillion yuan, an increase of 10.5% year-on-year. As a significant force in China's foreign trade, cross-border e-commerce has become one of China's three major trade methods, alongside general trade and processing trade.
Guangdong has led China in cross-border e-commerce volume and achieved province-wide coverage of comprehensive cross-border e-commerce pilot zones. In the first half of 2024, Guangdong's cross-border e-commerce imports and exports reached 427.34 billion yuan, about 10% of the province's total foreign trade, strongly supporting Guangdong's position as China's No. 1 province in foreign trade. So far, Guangdong has established nearly 6 million square meters of overseas warehouses worldwide.
The Guangdong commerce authorities stated that they will fully leverage the port resource advantages of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), deepen the system and mechanism reform, innovate approaches and methods, and accelerate the global deployment of overseas warehouses and other infrastructure. These efforts will significantly facilitate the cross-border e-commerce industry and build a global-reaching cross-border e-commerce infrastructure network.
As a co-organizer of the annual meeting, Li Ziwei, Director of the Economic Development Bureau of the Guangdong-Macao In-depth Cooperation Zone in Hengqin, stated that significant achievements have been made in industrial park construction in the zone. The Huafa Innovation Industrial Park of Cross-border E-commerce and Livestreaming Base and the Hengqin-Macao Cross-border E-commerce Industrial Park (Innovator) have been established. The two cross-border e-commerce industrial parks, which integrate functions such as product research and development, brand building, supply chain optimization, and logistics delivery, provide one-stop services for enterprises.
The annual meeting also included a think tank seminar on the cross-border e-commerce in the GBA and several parallel seminars on topics such as technology empowerment and AI restructuring of cross-border e-commerce, upgrading cross-border e-commerce platforms and building ecosystems, innovation and optimization in cross-border e-commerce services, and cross-border e-commerce brands and global marketing, as well as city promotion events.
Source: Economic Development Bureau of the Guangdong-Macao In-depth Cooperation Zone in Hengqin
