China to invest more in overseas infrastructure to bolster trade

03 Mar '22

1 min read

Pic: Shutterstock

China's commerce ministry will invest more in building overseas warehouses and promote the development of smart logistics platforms overseas, according to the country’s commerce minister Wang Wentao, who recently said more policy reforms will be introduced in favour of foreign trade and smooth operation of industrial and supply chains will be ensured.

In February, China’s State Council issued a statement approving the establishment of more cross-border e-commerce pilot zones in 27 cities and regions. It now brings the overall tally of pilot zones to 132, covering almost all provincial-level regions in China, from coastal industrial powerhouses like Jiangsu, Zhejiang and Guangdong to inland areas.

An updated list with expanded items of imported retail goods for cross-border e-commerce took effect recently, Wang said. The list, issued in April 2016, has been optimised several times and its commodity categories kept increasing, official Chinese media reported.

China's total goods imports and exports expanded by 21.4 per cent year on year to 39.1 trillion yuan (about $6.2 trillion) last year.

ALCHEMPro News Desk (DS)

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