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What the numbers say: The penetration rate of China's cross-border e-commerce has steadily increased since 2014, barring a setback in 2021. Cross-border e-commerce in China accounted for 37.32% of the country's total import-export transaction value in 2022, up from 15.9% in 2014. Relevance: China has been the world's second-largest economy for over a decade. The expanding role of e-commerce in its imports and exports is likely to affect foreign markets, particularly in the developing world. As e-commerce grows as a share of China's cross-border trade, the country's e-commerce platforms are likely to increase their global influence. Brands that should care: Non-Chinese e-commerce platforms may benefit from taking advantage of the growth of China's cross-border e-commerce trade. This could involve making themselves competitive in the Chinese consumer market or establishing relationships with Chinese suppliers to become a channel through which Chinese exports reach other markets. |
