China’s Suzhou city plans supercharged cross-border e-commerce business after Shein and Temu success
- The municipal government of the city in eastern Jiangsu province unveiled a three-year plan to attract cross-border e-commerce projects
- As China-founded businesses like Shein and Temu find booming success overseas, more areas in China are trying to tap overseas consumers for growth
The municipal government of the city in eastern Jiangsu province has issued a policy document aimed at accelerating local business digitalisation, attracting top cross-border e-commerce projects, and building a robust ecosystem for related businesses, according to a government document published on Monday.
If Suzhou can double its e-commerce exports and imports every year, the city’s annual turnover would amount to 150 billion yuan (US$20.7 billion) by 2026.
“At least 600 traditional foreign trade and manufacturing enterprises will conduct cross-border e-commerce annually,” the government said in the document. “By 2026, the number of the city’s cross-border online merchants will exceed 15,000.”
Authorities said they will give “key policy support” to benchmark enterprises, with higher contributions going to the cross-border trading sector. The document did not outline any details for the initiative.
Suzhou’s other measures involve building infrastructure and a support system for cross-border e-commerce development, including a robust and efficient supply chain, logistics and payment services.
Officials also set a goal of building overseas warehouses covering 1.5 million square metres to be operated by local enterprises, and to cultivate at least two cross-border e-commerce industrial parks by 2026.
