China will enhance the service capabilities of cross-border e-commerce enterprises, promote the high-quality growth of overseas warehousing, further optimize its foreign trade structure, and create new advantages in international economic cooperation, according to policy guidelines released by the Ministry of Commerce on Tuesday.
According to a statement released by the ministry's Foreign Trade Bureau, the government will coordinate and utilize existing financial channels to support the development of overseas warehousing businesses.
The new policy, jointly issued by nine government agencies including the Ministry of Commerce and the National Development and Reform Commission, encourages local authorities to explore using resources from existing equity investment funds to set up market-oriented industrial development funds and provide more support to overseas warehouse operators.
According to the guidelines, China will encourage qualified cross-border e-commerce enterprises to set up sales networks and brand operation centers in overseas markets, enhance their brand cultivation capabilities and expand their global presence.
According to data from the Ministry of Commerce, by the end of May, China had more than 120,000 cross-border e-commerce enterprises, over 1,000 cross-border e-commerce industrial parks and more than 2,500 overseas warehouses with a total area of more than 30 million square meters.
This includes more than 1,800 overseas warehouses covering 22 million square meters for cross-border e-commerce.
