China's cross-border e-commerce exporters enjoy reduced shipment and return costs

Shanghai Hongqiao Free Trade City, located in Jiuting Town, Songjiang District, officially opened, November 2, 2018. (Photo: CFP)

In a move to support the development of emerging foreign trade business patterns, China's cross-border e-commerce enterprises will enjoy slashed shipment and return costs, according to an announcement jointly released by Chinese authorities on Wednesday.

In recent years, China has introduced a slew of measures to support the development of cross-border e-commerce. A total of 29 items, including ski equipment, have been added to the list of retail imported goods in cross-border electronic commerce from March 1, 2022, according to China's Ministry of Finance. Meanwhile, the notes of some listed commodities have been adjusted and optimized based on the regulatory requirements.

Having bolstered a package of policy support, China's cross-border e-commerce has gained strong development momentum. China's cross-border e-commerce import and export in 2022 came in at 2.11 trillion yuan ($0.31 trillion), up 9.8 percent year on year, data from China's Ministry of Commerce showed.