The total number of mainland Chinese cross border online shoppers reached 18 million 78% of which are mobile shoppers; and, China has become the second cross border online shopping destinations in the United States, according to a Nielsen survey, commissioned by PayPal.
China Cross-border E-Commerce Markets
Amazon China announced a tripartite memorandum of understanding with China (Shanghai) Free Trade Zone (FTZ) and Shanghai Information Investment Co., Ltd.
Some Chinese shoppers buy products on oversea online retailers, which will be delivered directly to their Chinese address. These group of users are commonly known as Haitao in China.
Alibaba Group is the largest online and mobile commerce company in the world in terms of gross merchandise volume (GMV) in 2013, according to the IDC GMV Report. They operate their ecosystem as a platform for third parties, and they do not engage in direct sales, compete with their merchants or hold inventory.
Alibaba announced through its official Weibo that it will invest SGD 313 million (about USD 249 million) in Singapore Post (SingPost) for 10.35% share in SingPost.
Shanghai Free Trade Zone officially launched cross-border e-commerce platform kuajingtong.com on December 28, 2013. It is the first cross-border e-commerce enterprises granted by Chinese government as the government supports cross-border shopping.
iResearch’s report showed that current Chinese consumers’ cross-border payment included cross-border online shopping, cross-border transfer and cross-border offline shopping. Most consumers used cross-border online shopping, with 65.7%. And 39.5% consumers regarded it as the most frequently used payment.
Since the IPO of LightInTheBox in the U.S., Chinese e-commerce has turned their interest in international cross-border transactions. Besides, the new government policies supporting foreign e-commerce retailers might make it new highlight. International e-commerce actually is a low cost and low risk business. Data from China, the UK and the U.S. all showed that international […]
Alipay, together with 16 other third-party enterprises, were granted with cross-border payment license. The 17 enterprises are located in five cities and their licenses were granted in different businesses. Alipay, Tenpay, Chinapnr, Allinpay, Unionpay, 99Bill, shengpay,IPS, fuiou, yeepay and chinagpay are allowed in trade in goods, overseas education, air tickets and hotels; yinyingtong is allowed […]