China's cross-border e-commerce expected to hit $1.32t in 2018
Customs officials in Yiwu, Zhejiang province, inspect e-commerce parcels from South Korea. Chinese cross-border e-commerce transaction reached 6.7 trillion yuan in 2016, up by 31.6 percent, chinanews.com reported Sunday, citing an index released at a forum held in Shanghai. The Chinese Cross-Border E-commerce Index also predicted that by 2018, value of China's import and export transaction via e-commerce, including retail and business-to-business, might hit 8.8 trillion yuan. Shanghai, Beijing and Hangzhou are top three locations where people favored cross-border e-commerce. Shanghai consumers accounted for 11.9 percent of the entire cross-border buyer population, while Beijing consumers accounted for 11.1 percent and Hangzhou consumers for 3.8 percent.
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