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China issues draft rules to expand cross-border e-commerce

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China on Tuesday issued draft rules to promote construction of overseas warehouses and expand cross-border e-commerce businesses, which have become a vital force in its foreign trade, according to the Chinese commerce ministry.

Companies including Shein, PDD Holdings’ (PDD.O), opens new tab Temu and Alibaba’s (9988.HK), opens new tab AliExpress, which predominantly ship made-in-China products “cross border” to markets around the world have been rapidly growing in recent years.

This has opened a new avenue for growth for some firms previously focused on domestic consumption, which remains muted by a macroeconomic slowdown, prolonged property crisis and income insecurity.

The commerce ministry’s announcement, which covered draft rules for both inbound cross-border e-commerce as well as outbound, said it would also seek to improve cross-border data management and optimise the supervision of cross-border exports.

National ministries and government departments will smooth financing channels and help cross-border e-commerce companies to “go global”, the ministry said.Source: Reuters

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