The Shenzhen delegation is expected to see an estimated procurement amount of up to US$5 billion at the ongoing sixth China International Import Expo (CIIE) in Shanghai, according to the Shenzhen Municipal Commerce Bureau.
CIIE, the world's biggest import fair, kicked off in Shanghai on Sunday, with over 3,400 global exhibitors gathering at the six-day expo.
During CIIE, the Shenzhen delegation is scheduled to hold seven supply-demand matching and business negotiation activities. The delegation's procurement mainly covers areas such as technology and electronics, food and agricultural products, energy, and trade in services.
Cross-border e-commerce practitioners from Shanghai and Shenzhen also convened during CIIE for a procurement matchmaking and cross-border development exchange meeting Monday. Focusing on the latest trends in the cross-border e-commerce industry, the attendees engaged in discussions on the rapid development of cross-border e-commerce brought by urban upgrading and transformation, as well as smart city construction, and strengthened resource exchange within the industry.
According to data from relevant institutions, amid declining traditional trade and sluggish global economic growth, the imports and exports of cross-border e-commerce have grown nearly tenfold in the past five years, with an annual growth rate of over 30%.
The number of comprehensive pilot zones for cross-border e-commerce has expanded to 165, covering 30 provinces, autonomous regions, and municipalities across the country.
From January to September this year, China's cross-border e-commerce imports and exports climbed 14.4% year on year to reach 1.7 trillion yuan (US$233 billion). It is expected that cross-border e-commerce exports will reach 2.95 trillion yuan by 2024.
According to statistics from the municipal commerce bureau, there are over 150,000 exporters engaged in cross-border e-commerce in Shenzhen. In the first three quarters, the import and export value of Shenzhen's cross-border e-commerce reached 180 billion yuan.