From "Buying Globally" to "Connecting Globally": Cross-border E-commerce Paves a New Path.
"The growth rate of cross-border e-commerce is faster than that of general trade, and its proportion in international trade has also been steadily increasing." Jiang Xiaoshuan, a professor at the University of Chinese Academy of Social Sciences and former Vice Minister of the State Council, stated at the recent Boao Forum for Asia Annual Conference 2025. With advancements in technology and improvements in infrastructure, cross-border e-commerce will play a significant role in international trade, becoming a new engine for growth.
The theme of this year's Boao Forum for Asia Annual Conference is "Creating Asia's Future Together Amid Global Changes." At the sub-forum titled "Cross-Border E-commerce Cooperation: A New Trade Engine for Mutual Benefit and Win-Win Outcomes," participants unanimously agreed that cross-border e-commerce has become a crucial driver of global trade growth, with both opportunities and challenges lying ahead in its future development.
"Cross-border e-commerce is a vital force in international trade," said Li Yongzhai, Deputy Representative of the Ministry of Commerce for Trade Negotiations. In recent years, Asian countries, led by China, have made rapid progress in the field of cross-border e-commerce.
The "Asia Economic Prospects and Integration Process 2025 Annual Report," released at this year's conference, points out that digital trade in Asia has maintained rapid growth. In 2024, the retail e-commerce growth rate in the Asia-Pacific region reached 8.4%; China's total cross-border e-commerce import and export volume was approximately $369 billion, up 10.8% year-on-year.
While cross-border e-commerce is surging, it also needs to overcome its "growing pains." Chea Serey, Governor of the National Bank of Cambodia, believes that on one hand, the increase in small-quantity cross-border trade puts greater administrative pressure on customs, necessitating improvements in government and customs efficiency to avoid hindering business development. On the other hand, the payment system for cross-border e-commerce urgently needs improvement, with a need to explore safer and more direct payment methods to enhance the efficiency of international payments.
Given the unique nature of cross-border e-commerce, countries also need to jointly develop coping strategies. "Cross-border e-commerce is a new business model and a new form of international trade development, thus posing new requirements for regulatory bodies and regulatory mechanisms in various countries," said Gu Xueming, Director of the Institute for Open and Innovative Development at Shenzhen University. Continuous optimization of management systems is needed in areas such as market access, laws and regulations, and data security.
In response, Zhou Rui, Chairman of the French Bridge Think Tank, suggested three measures: first, strengthen supervision over small and medium-sized enterprises, establish unified standards, and promote transparent and sustainable development of cross-border e-commerce; second, use data to optimize decision-making and leverage big data to enhance the management of e-commerce supply chains; third, adhere to the principle of "inclusion for all" and support more groups to participate in the cross-border e-commerce industry through technical training.
Cross-border e-commerce is still in its early stages. To achieve the inclusive vision of transitioning from "buying globally" to "linking globally," it is essential to continuously bridge the development "fault lines" and build a more inclusive trade ecosystem.
"Cross-border e-commerce has enabled many small and medium-sized enterprises to participate more deeply in globalization, creating new opportunities for overseas expansion," said Qiu Han, Senior Vice President of PayPal Global and CEO of PayPal China. Efforts should be made to help small and medium-sized enterprises enhance their competitiveness, encourage the use of AI technology, and strengthen supply chain support, gradually diversifying the market coverage of cross-border e-commerce and building an inclusive trade ecosystem.
China's cross-border e-commerce has connected the world through buying, selling, and benefiting globally, and China's development will also become an opportunity for the world. "China has actively engaged in pioneering efforts, approving the establishment of 165 comprehensive pilot zones for cross-border e-commerce and promoting e-commerce cooperation to share China's experience and development dividends with other countries," Li Yongzhai said.
"Currently, the e-commerce penetration rate in Australia is only 16%. If connected with China's large market, it will unleash tremendous potential," said Christine Holgate, CEO of AusPost. Most of the import and export products between China and Australia are currently duty-free, and this two-way, healthy free trade has become a favorable factor for Australia's economy. Promoting the connection of Australian small and medium-sized enterprises to China's e-commerce market is timely.