Alibaba releases exclusive report on China's cross-border e-commerce development and prospect

According to data from the General Administration of Customs of China, China's cross-border e-commerce imports and exports reached 2.11 trillion yuan in 2022, a year-on-year increase of 9.8 percent. Among them, exports were 1.55 trillion yuan, up 11.7 percent, and imports were 0.56 trillion yuan, up 4.9 percent. Products such as wine, honeybush tea, and canned abalone from South Africa, Cambodian long-grain rice and purple cashews, as well as Japanese cosmetics are now being introduced to the Chinese market through cross-border e-commerce.

As a new type and model of China's foreign trade development, cross-border e-commerce has maintained a rapid development trend with increasing resilience and vitality, and has achieved outstanding results in brand cultivation, global business models, supply chain optimization, model innovation and compliance program development.

Under this circumstance, the policy research center of the Electronic World Trade Platform of Alibaba, China’s e-commerce behemoth, recently released an exclusive report on the development and prospect of China’s cross-border e-commerce.

In 2022, the new model of cross-border e-commerce developed rapidly, according to the report, where the model of "livestream + cross-border e-commerce" was widely used. Overseas independent brands established by domestic enterprises are booming as well, the report reads.

The report also discusses the prospect of China’s cross-border e-commerce in 2023. With the continuous expansion of global online consumption, cross-border e-commerce will use user behavior data to target customer groups, analyze user journeys, and offer more intelligent solutions, the report notes.

With the rapid development of digital trade, the transaction scale of cross-border e-commerce service products in China will increase. The cross-border e-commerce ecological chain will continue to be optimized and upgraded, and international cooperation in e-commerce will accelerate, according to the report.