Cross-border e-commerce imports exceed 10b yuan in H1

The value of cross-border e-commerce imports in the Ningbo Bonded Area surges 43.9 percent year-on-year to 10.12 billion yuan ($1.47 billion) in the first half of this year.[Photo/cnnb.com.cn]

The value of cross-border e-commerce imports in the Ningbo Bonded Area soared 43.9 percent year-on-year to 10.12 billion yuan ($1.47 billion) in the first half of this year, according to the local customs.

The number of import declarations made over the six-month period stood at 44.642 million, up 19.3 percent year-on-year. 

The number of import declarations in the area in June alone amounted to 10.191 million, with a combined value of 2.62 billion yuan, representing year-on-year increases of 54.4 percent and 71.8 percent respectively. This was largely fueled by the "6.18" online shopping festival. 

A local resident surnamed Gao from the city's Haisu district said that she cancelled plans to travel overseas this year and is instead relying on cross-border e-commerce platforms to buy foreign goods. 

This strong performance is due to a combination of several factors, including the bonded area's streamlined approval procedures for cross-border e-commerce.

Through the use of advanced technology, customs clearance of cross-border e-commerce imports is no longer limited to working hours, and most orders can be processed continuously 24 hours a day.

A number of cross-border e-commerce giants, including Amazon, Costco, Alibaba's Tmall International, and JD.com have established a business presence in the bonded area. 

The bonded area is also home to a total of 700,000 square meters of cross-border warehouses and houses a large number of well-known logistics enterprises from China and abroad.

In the first half of this year, nearly 100 enterprises were established in the area, increasing the total number of cross-border e-commerce enterprises to more than 600.