China's cross-border e-commerce grows by 10.8% in 2024

BEIJING, 16th January, 2025 (WAM) -- Cross-border e-commerce in China recorded a growth of 10.8% in 2024, according to data released by the Chinese Ministry of Commerce.

China Central Television (CCTV) reported that the country's total goods trade reached 43.85 trillion yuan (approximately US$6.16 trillion), marking a 5% increase compared to the previous year.

The ministry highlighted that imports achieved a record growth of 2.3%, reinforcing China's position as the world's second-largest importer for the 16th consecutive year. The number of companies engaged in foreign trade reached around 700,000.

Meng Yue, Deputy Director of the Department of Foreign Trade at the ministry, stated during a press conference in Beijing that cross-border e-commerce contributed 6% to China's total foreign trade. He added that trade with countries under the Belt and Road Initiative represented 50.3% of China's total foreign trade.

China contributed 20.3% to global import growth during the first three quarters of 2024, supporting the recovery of the global economy.