Shenzhen officials say their city experienced a 74.4 percent increase in cross-border e-commerce between November 2023 and the year prior, China Daily reports. The value of foreign e-commerce trade grew to about 326.53 billion yuan (about US$45.96 billion) over the period.
Data from Shenzhen’s Municipal Bureau of Commerce reportedly shows there are more than 150,000 cross-border e-commerce businesses operating out of the Guangdong tech hub.
They account for almost half of all Chinese sellers on the platforms Alibaba.com, AliExpress, Lazada, and eBay – and one third of Chinese sellers on Amazon.
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In recent years, Shenzhen has attracted investment from several well-established Chinese online marketplaces, including Douyin, JD Worldwide, and Alibaba.
Foreign platforms are also homing in on the city: last month, Amazon launched a world-first innovation centre in Shenzhen, and the South American giant Mercado Libre has announced it will establish its China headquarters there, too.
The city is well set up for e-commerce export, boasting more than 3.8 million square metres of overseas warehouses, 16 ports, and 11 customs supervision facilities that specialise in handling trade from e-commerce.
