In recent years, China's cross-border e-commerce transaction volume has continued to grow rapidly. To a certain extent, cross-border e-commerce is of great significance to comprehensively expanding opening up, accelerating the transformation of foreign trade growth mode, and promoting the transformation and upgrading of traditional industries. Recently, China (Hangzhou) Cross-border E-Commerce Comprehensive Experimental Zone and Yibang Power Research Institute released the "Research Report on Cross-border E-Commerce Innovation".

Great potential to cover a wide range of global purchases and sales

The report pointed out that the global B2C market will continue to maintain a growth rate of more than 15%. According to eMarketer's 2017 Global E-Commerce Platform report, global retail e-commerce sales totaled 2.29 trillion US dollars in 2017, which is expected to reach 2.774 trillion US dollars in 2018 and 4.479 trillion US dollars in 2021, accounting for social retail sales. The total amount is 16.1%. Zheng Min, Chairman and CEO of Billion Power, and Dean of Yibang Power Research Institute, pointed out in the interpretation of the report that, first, the cross-border retail sales of customs cross-border e-commerce management platform in 2017 increased by 80% year-on-year, China cross-border E-commerce retail is moving in the direction of standardization. Second, online shopping consumer demand is very strong. There is still great potential for cross-border e-commerce imports, and there is a lot of room for improvement. Third, China's cross-border e-commerce trading partners cover more than 220 countries and regions. Only a few countries and regions and China do not have cross-border e-commerce trade relations. The top trading partners of cross-border e-commerce exports are Hong Kong, the United States, Russia, South Korea, and the United Kingdom, the top importers are Japan, the United States, South Korea, and Australia.