Shanghai Finance


China to encourage import goods sales

November 08,2018


China will continue to encourage new means of import goods sales such as those through online channels to boost domestic consumption, according to the Ministry of Commerce.

It is working with relevant government authorities to optimize regulatory measures for cross-border import sales and will continue to encourage innovative methods as well as inclusive policy schemes to ensure stable transition when a pilot program turns into official rules, Qian Fangli, director general of the ministry’s e-commerce and information department, told a press briefing at the China International Import Expo on Wednesday.

Cross-border e-commerce sales in the first eight months of this year reached 48.97 billion yuan. Last year transactions stood at 56.59 billion yuan, 1.2 times more than the year before.

China has also established bilateral trade mechanisms with 15 countries to boost e-commerce and promote collaboration, Qian said, and China’s online retailing channel has been an important means to broaden the range of products available for consumers.

Online retailers have ambitious plans to source import merchandise ranging from food, personal care and beauty products to cater to the demand for high-quality international products.

Alibaba Group has made a commitment to help import US$200 billion worth of goods from more than 120 countries over the next five years.

“Globalization is one of Alibaba’s most critical long-term growth strategies. We are building the future infrastructure of commerce to realize a globalized digital economy where trade is possible for every country around the world,” said Daniel Zhang, the group’s CEO.

The top countries for Alibaba’s import efforts include Germany, Japan, Australia, the US and South Korea.

NetEase’s import unit Kaola and Suning Commerce Co are among the companies signing contracts with overseas merchants.

Suning Holding Group vice president Sun Weimin said it will purchase 120 billion yuan worth of import goods during the CIIE and introduce 5,000 overseas brands to the domestic market.

NetEase’s cross-border import goods platform Kaola said it welcomes stable policies regarding the cross-border retailing scheme which would further enhance the role of e-commerce in boosting consumption.

NetEase has signed purchasing contracts worth 20 billion yuan at the CIIE, and CEO William Ding expects the total amount of imported goods sourced in the coming years to exceed US$20 billion.

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