Under the great efforts of the government, China’s cross-border consumption would enter a period of rapid development. The cross-border e-commerce would double the growth targets in the next three years, according to the annual cross-border consumption index report released by Xinhua News Agency and Visa.
In 2014, the United States was the top cross-border online shopping importing country of China by transaction frequency among the 10 countries researched, followed by U.K. and Japan, which takes the place of Hong Kong.
For China, the United States also was China’s largest cross-border online shopping export country by transaction frequency; and the United Kingdom and Canada were the second and third respectively. South Korea, Germany and Hong Kong imported the lowest from China.
Although China’s online shoppers purchased most frequently from the United States, Australia was the top country of cross-border online shopping by average single transaction value, followed by France and the UK.
In addition, China’s cross-border e-commerce market had a strong seasonal pattern. The peak of importing appeared at the end of year, due to the U.S. Thanksgiving, Black Friday, Cyber Monday and other shopping seasons. The major imported commodities were educational goods, clothing and leisure products. The transaction amount from October to December was the peak of cross-border e-commerce of China’s exporting market, which was also the period of the Christmas Day in many western countries.
Fuzhou was re-elected as the most attractive city, followed by Hangzhou, Quanzhou, Xiamen and Suzhou. The inbound and outbound travel market of China presented many new features compared with the previous years. Among the top 10 largest provinces (provinces, municipalities and autonomous regions) by income of foreign travelers, the average visit duration in Tianjin was the highest (15.6 days), much higher than other provinces. Fujian province, Beijing and Jiangsu province came next. The average daily inbound tourists expenditure in Shanghai was the highest, followed by Beijing.
In 2014, the United States ranked first as China’s largest cross-border online shopping export and import country. In terms of a average single transaction value, Australia, France and the U.K. were the top three; and Japan, Hong Kong and Korea were at the bottom. While mainland China was the largest importing market of Hong Kong and Japan in terms of a single transaction value.
The United States, Canada, Britain, Australia and New Zealand ranked the top five countries by annual spend by Chinese students studying abroad; the consumption expenditure in Australia was the highest, s much as 121% of the expenditure in the United States.