"Start Entering the Chinese Market with Direct Overseas Purchase"

Jungjingong, Recruiting Companies for Online Briefing Session on Entering China's Overseas Direct Purchase Market

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 26th that it will hold an online briefing session titled "Entry into the Chinese Overseas Direct Purchase Market Using Cross-border (Quajing) E-commerce Platforms" in collaboration with the Embassy of the Republic of Korea in China (Ambassador Jang Ha-sung).

SBC and the Embassy of the Republic of Korea in China prepared this briefing session in response to the increasing number of companies interested in entering the Chinese overseas direct purchase market, which significantly reduces the risks and investment costs associated with direct local entry into China.

The briefing session, scheduled for the 29th, will feature experts from various fields who will introduce ▲Understanding and utilization methods of the Chinese Quajing platform (such as the Tmall Global overseas warehouse consignment sales method) ▲Ways for Korean companies to enter the Chinese overseas direct purchase market with minimal burden by utilizing local bonded warehouses ▲Understanding and utilization of Quajing logistics ▲Methods of selling products through Quajing-linked Wanghong live broadcasts. SBC will also provide information on government support available to small and medium enterprises interested in entering the overseas direct purchase market.

According to Chinese Customs, the scale of cross-border e-commerce transactions in China last year reached 12.5 trillion yuan, a 19% increase compared to the previous year. Among this, the business-to-consumer (B2C) transaction volume was 1.69 trillion yuan, growing 31.1% year-on-year, and the amount spent by Chinese consumers on overseas direct purchases increased by 16.5% compared to the previous year.

By utilizing cross-border e-commerce, it is possible to sell products without various permits required for entry into China, and the complex quarantine process is bypassed, resulting in shorter customs clearance times and cost savings. Additionally, lower import tax rates than those applied to general cargo imports can be applied.

For more details and to apply for participation in the online briefing session, please visit SBC's GoBiz Korea and the Embassy of the Republic of Korea in China websites. Cho Woo-joo, head of SBC's Online Export Division, said, "We hope this briefing session will be helpful to small and medium enterprises aiming to enter the Chinese overseas direct purchase market," adding, "SBC will do its best to expand online exports of small and medium enterprises through various methods such as providing e-commerce information for each country, supporting entry into global shopping malls in connection with specialized companies, supporting entry into own malls, and logistics support."