New Consumer Daily, May 11. The main contents of this week's cross-border overseas trip include: 1688 launched a business cooperation with the Mongolian e-commerce platform Shoppy; SHEIN became the third largest online fashion retailer in the US; and Meituan's Hong Kong business KeeTA rose to number one in the number of orders in one year after entering Hong Kong.

Industry highlights

What is worth buying and choosing Thailand as the first stop

What is worth buying to launch the overseas plan. Thailand was selected as the first destination. The operating model is self-operated. The Thai version of “What is worth buying” was named “ZestBuy”. Currently, the app is being launched in various application markets one after another. Previously, it was stated to the outside world that in 2024 it will be through self-employment and cooperation.

In terms of the cooperative operation model, what is worth buying will also launch various models such as global partnership programs and joint ventures. In the domestic market, what is worth buying will be fully AI, and what is worth buying and upgrading the app to the AI native application “What is worth buying GEN2”.

Amazon opens a global store and opens its first office in central China in Zhengzhou

Amazon Global Stores announced the official opening of its first office in central China, the Zhengzhou office. It is expected that the Zhengzhou office will cover many surrounding cities. After it is put into operation, it will continue to serve the development of the export cross-border e-commerce industry in Henan, including cultivating well-known brands of cross-border e-commerce, building platforms that tend to communicate, and promoting the deep integration of the “cross-border e-commerce plus industrial belt”.

1688 launches business cooperation with Mongolian e-commerce platform Shoppy

On May 8, the reporter learned that 1688 officially launched a business cooperation with the Mongolian e-commerce platform Shoppy. Starting May 8, Mongolian buyers can directly purchase goods from Chinese origin through ShoppyHub.mn. The website supports various procurement methods such as Chinese, English, Mongolian, and image search, and is delivered 7 to 10 days after placing an online order.

SHEIN becomes the third-largest online fashion retailer in the US

According to the latest data from the ECDB website, SHEIN is the third largest online fashion retailer in the US, after Amazon and Walmart, ahead of traditional retail giants Macy's and Nike, making it the only Chinese company on the list. According to the data, net sales of SHEIN fashion reached 8.1 billion US dollars in 2023.

Meituan's Hong Kong business KeeTA rose to first place in the market volume in one year after entering Hong Kong

According to the latest data released by market research agency Measurable AI, based on the number of orders in March 2024, Meituan's Hong Kong business KeeTA's share of the single volume market has reached 44%, making it the largest takeout platform in Hong Kong.

Measurable AI data shows that since entering the Hong Kong market in May 2023, KeeTA's share of the single volume market has continued to increase rapidly from month to month, and has overtaken two contests within 10 months. In terms of order volume, by March 2024, KeeTA's market share reached 44%, Foodpanda 35%, and Deliveroo 21%.

The Ministry of Commerce plans to organize a comprehensive cross-border e-commerce pilot zone to carry out special actions such as platforms and sellers going overseas

The Ministry of Commerce issued the “Three-Year Action Plan for Digital Commerce (2024-2026)”. Among them, it is proposed to optimize export supervision methods for cross-border e-commerce. Organize a comprehensive cross-border e-commerce pilot zone to carry out special actions such as platforms and sellers going overseas. Support cross-border e-commerce to empower industrial belts, guide traditional foreign trade enterprises to develop cross-border e-commerce, and establish a marketing service system integrating online and offline, and linking at home and abroad. Improve the level of specialization, scale and intelligence of overseas warehouses.

Investment and financing express

Multi-point Smart submits listing application to the Hong Kong Stock Exchange

According to Hong Kong Stock Exchange documents, on April 30, Multipoint Digital Intelligence Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange. The co-sponsors were UBS Group, China Merchants International, and China Merchants Securities International. The company provides digital solutions for the local retail industry.

Industry data at a glance

China's exports increased 5.1% year on year in April, imports increased 12.2% year on year

According to data from the General Administration of Customs, in the first four months of 2024, China's total import and export value of goods trade was RMB 13.81 trillion, an increase of 5.7% over the previous year. Among them, exports amounted to 7.81 trillion yuan, an increase of 4.9%; imports amounted to 6 trillion yuan, an increase of 6.8%; and the trade surplus was 1.81 trillion yuan, narrowing by 0.7%. In April, imports and exports amounted to 3.64 trillion yuan, an increase of 8%. Among them, exports amounted to 2.08 trillion yuan, an increase of 5.1%; imports amounted to 1.56 trillion yuan, an increase of 12.2%.

Among them, in the first four months of this year, China's imports and exports to the “Belt and Road” countries were 6.54 trillion yuan, an increase of 6.4%, accounting for 47.4% of the total import and export value, an increase of 0.3 percentage points over the previous year. Among them, imports and exports to ASEAN amounted to 2.18 trillion yuan, an increase of 8.5%. In the same period, imports and exports to the European Union, the United States, South Korea, and Japan amounted to 1.75 trillion yuan, 1.47 trillion yuan, 728.7 billion yuan, and 703.05 billion yuan respectively, accounting for a total of 33.7%.

In addition, the five emerging markets, such as Latin America, Africa, and Central Asia, grew rapidly, growing at 11.7%, 7.7%, and 17.9% respectively.

In the first quarter, the country's bicycle exports of 10.99 million vehicles increased 13.7% month-on-month

In the first quarter, China exported 10.99 million bicycles, an increase of 13.7% over the fourth quarter of 2023, continuing the restorative growth trend since the second half of last year. Guo Wenyu, Vice Chairman and Secretary General of the China Bicycle Association, explained that China's bicycle exports to major markets all increased in the first quarter. Exports to the US were 2.295,000 vehicles, up 47.2% year on year; exports to Russia were 930,000 vehicles, up 52.1% year on year; exports to Iraq, Canada, Vietnam, and the Philippines grew strongly, with export volumes increasing by 111%, 74.2%, 71.6%, and 62.8%, respectively.

In the first four months of this year, Guangdong's foreign trade imports and exports amounted to 2.8 trillion yuan

The Information Office of the Guangdong Provincial Government held a press conference on “Opinions on Implementing the Five External Linkages” to Promote a High Level of Opening-up to the Outside World. Feng Guoqing, deputy director of the Guangdong branch of the General Administration of Customs, said that according to customs statistics, in the first four months of this year, Guangdong's foreign trade imports and exports reached 2.8 trillion yuan, an increase of 12.3% over the previous year. The growth rate was 6.6 percentage points higher than the national growth rate, 0.3 percentage points higher than the growth rate in the first quarter. Among them, exports amounted to 1.8 trillion yuan, an increase of 8.8%; imports amounted to 999.67 billion yuan, an increase of 19.1%. In April alone, Guangdong's foreign trade imports and exports amounted to 764.81 billion yuan, an increase of 13% over the previous year.

CIFA statement: The content of this article is for reference only and does not constitute investment advice. Investors operate on this basis at their own risk.