Cross-border e-commerce between China and ASEAN economies is surging as more Chinese consumers are developing a taste for exotic food and an ongoing need for online shopping.
"Cross-border e-commerce trade is set to see a year-on-year growth of 50 percent in 2018 from last year," said Zhao Ping, director of the international trade research department under the Academy of China Council for the Promotion of International Trade.
There has also been a flurry of investments in the sector. Tech giant Alibaba Group Holding Ltd, for instance, acquired Lazada Group and invested in Tokopedia, two major players in the ASEAN region. Internet giant Tencent has invested in e-commerce group Shopec.
According to a recent survey, there is great demand from Chinese consumers for products like fruit, seafood and other products from five sectors in the ASEAN region.
The logistics network called the China-Singapore (Chongqing) Connectivity Initiative Southern Transport Corridor (a.k.a. the Southern Transport Corridor) is now a vital artery for China-ASEAN trade. The route links ASEAN countries with South China's Guangxi Zhuang autonomous region, which also connects Southwest China's Chongqing and some countries in central Asia and Europe."
Source: nationmultimedia.com
