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China's Cross-Border E-Commerce Witnesses 9.6% Surge in Q1 2024

Written By Jenny Doe
Reviewed By Jenny Doe

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China's Cross-Border E-Commerce Witnesses 9.6% Surge in Q1 2024

The Commerce Ministry recently released data indicating that in the first quarter of this year, cross-border e-commerce trade in China increased by 9.6% year over year to reach 577.6 billion Yuan.

During the quarter, significant growth of the country’s ecommerce has been highlighted by the Ministry for their imports and exports with Silk Road partner nations like Hungary, the UAE, Cambodia, and Brazil.

Acceleration in International cooperation within the commerce sector has also been highlighted by the Ministry. They cited the inaugural participation of Chinese ecommerce platforms in overseas roadshows.

According to a state-run media site, these efforts led to interactions with over 60 small and medium-sized businesses in Italy, which was a major advancement in the outreach of global e-commerce.

During the quarter, online retail sales in the domestic market reached 3.3 trillion Yuan, indicating a strong year-over-year increase of 12.4 percent.

It would be interesting to see what would be the next number marked for the cross-border ecommerce in China.

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