The Chinese government is prioritizing the strengthening of e-commerce exports and is stepping up financial support.
According to foreign media on the 25th, the State Council of China held a commerce meeting chaired by Premier Li Chang the previous day and passed the "Opinions on Expanding Cross-Border E-Commerce Exports and Promoting the Establishment of Overseas Logistics Bases."
This policy document includes fostering more enterprises participating in cross-border e-commerce and supporting traditional foreign trade companies to leverage e-commerce potential. It also promotes the cultivation of talent in the e-commerce sector and encourages the building of business brands.
The Chinese government also plans to increase financial support to strengthen the construction of related infrastructure and logistics systems, as well as optimize supervision and services.
The State Council emphasized that this policy will help form new strengths in China's global economic cooperation.
However, there is growing criticism worldwide, including in the United States, that China is engaging in "deflation exports" by pushing surplus ultra-low-priced products overseas due to domestic demand stagnation.
While this may benefit consumers in the short term, in the long run, foreign companies may be forced to close due to the low-price offensive originating from China.
E-commerce companies such as AliExpress, Temu, and Shein are at the forefront of this "China-originated oversupply."
Chinese President Xi Jinping has stated that overproduction is a "non-existent problem" and that China's exports help with global inflation (price increases).
According to the General Administration of Customs of China, the total import and export volume of China's cross-border e-commerce last year was 2.38 trillion yuan (approximately 448 trillion won), a sharp increase of 15.6% compared to the previous year.
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