China’s tech champions, including online shopping behemoth Alibaba Group Holding and fast-fashion shopping platform Shein, play an important role in facilitating cross-border e-commerce, according to mainland government officials at a major forum promoting Beijing’s Belt and Road Initiative (BRI).
At the Digital Silk Road (DSR) Development Forum in Xian, capital of western Shaanxi province, on Tuesday, Alibaba – owner of the South China Morning Post – and Shein were among those named as exemplars of trading platforms that have helped advance the country’s booming cross-border e-commerce sector.
Those platforms have, “through their application of new technologies and exploration of new models, improved operational and service capabilities, pushed for digital upskilling in industries and empowered small and medium enterprises for global operations”, Liang Hao, executive deputy secretary general of the World Internet Conference (WIC), said in a speech.
“[They have] built efficient and collaborative platforms for trading across different countries and regions,” he said.
The DSR forum is co-hosted by the WIC – a Beijing-based agency promoting China’s cyberspace vision – and the Shaanxi government. The DSR initiative was launched in 2015 to incorporate digital elements into BRI – China’s plan to grow global trade – with the aim of boosting digital connectivity.
China is increasingly looking to exports to boost its economy, as post-Covid growth remains shaky.
The National Bureau of Statistics on Tuesday reported better-than-expected economic growth of 5.3 per cent for the first quarter, partially fuelled by “increased overseas demand driving export growth in the industrial sector”, said Ding Shuang, chief Greater China economist at Standard Chartered.
Liang from the WIC also credited cross-border e-commerce for bolstering China’s economy. “Cross-border e-commerce is now the new engine of global economic growth, with huge potential,” he said.
Chinese Big Techs firms are responding to calls from authorities to support trade with other countries.
Alibaba.com, a business-facing international e-commerce platform, has been actively working to advance a government-led cross-border e-commerce initiative, said executive Wang Yongjian at a round-table discussion at the forum.
That initiative is aimed at coordinating the development of cross-border trade in more than 165 e-commerce pilot zones and various industrial clusters around China, with each focusing on their local speciality merchandise.
Alibaba is also using artificial intelligence (AI) technology to support its trade business.
The Hangzhou-based company last year launched a set of AI tools designed to improve the operational efficiency of small and medium enterprises hoping to serve foreign supply chains, Wang said, adding that the company is planning to develop those tools into a more comprehensive solution in the future.