Ningbo leads nation in cross-border e-commerce bonded imports

Ningbo Customs handled 96.89 million declarations for cross-border e-commerce imports worth 21.52 billion yuan ($3.31 billion) in the Ningbo Free Trade Zone in 2020, a rise of 13.4 percent and 28.7 percent year-on-year respectively.

The city in East China's Zhejiang province became a cross-border e-commerce pilot area at the end of 2012. In November 2013, cross-border e-commerce bonded imports began in the Ningbo Free Trade Zone.

The robust growth in the zone is largely attributed to local customs authorities' efforts in service optimization.

Since the onset of COVID-19 epidemic, Ningbo Customs has taken a string of measures to help cross-border e-commerce enterprises resume work. For instance, enterprises were allowed to transfer certificates remotely and handle business online. They were also exempt from overdue fines, which greatly relieved their financial pressure caused by the outbreak.

Numerous enterprises in the Ningbo Free Trade Zone, as a result, experienced robust growth in revenue last year.

One such example is Ningbo Fuli Logistics Co Ltd. The company's sales exceeded 1.6 billion yuan in 2020, a yearly uptick of more than 200 percent.

To date, Ningbo Free Trade Zone is home to nearly 700 cross-border e-commerce enterprises. A large number of behemoths from home and abroad including Costco, Tmall, JD.com and Koala have established a business presence in the zone.

Meanwhile, some local enterprises such as Yoyou have also been emerging.