China provides vibrant digital trade cooperation platform with international expo

Xinhua|Published 5 months ago

Sales staff promote African products via livestreaming during the third Global Digital Trade Expo in Hangzhou, east China's Zhejiang Province, September 25, 2024. Picture: Xinhua / Huang Zongzhi

The third Global Digital Trade Expo (GDTE), concluding here on Sunday, has been a vibrant platform for fostering global partnerships in digital commerce and thus sustainable growth.

Held in Hangzhou, a city known for blending ancient charm and modern innovation, the expo featured more than 1,500 enterprises, including over 300 international companies.

Attendees experienced cutting-edge innovations like AI-driven robots and hydrogen-powered drones and were presented with over 400 new products and technologies.

VALUABLE EXPERIENCE

Kazakh Minister of Digital Development, Innovation, and Aerospace Industry Zhaslan Madiyev highlighted China's role as a global leader in e-commerce and digital technologies, noting that China is accelerating the digital transformation of markets worldwide.

In a written interview with Xinhua, Madiyev said China's experience offers valuable insights for countries in the early stages of developing their digital markets, aiding global growth and helping reduce digital inequality. He cited Kazakhstan's efforts to improve telecommunications and cybersecurity by learning from China.

In addition to cutting-edge technologies, China's experience in e-commerce also set an example for countries seeking to capitalize on the rapid growth of digital trade.

Kilimall, an e-commerce platform founded by Chinese entrepreneurs in Africa in 2014, has become one of the most popular shopping websites among Africans. It has generated about 10,000 local jobs in logistics, courier services, customer support and regional sales.

The cooperation between China and Africa in digital economy "represents a new model of economic cooperation that creates tangible value for businesses and people on both sides" said Ugandan Ambassador to China Oliver Wonekha.

Digitalization is a technological leap and a key driver of future development for countries and businesses, said Jean Louis Robinson, ambassador of Madagascar to China. "We are eager to work closely with Chinese companies to learn from China's advanced experience in digital economy and promote sustainable development in Madagascar," he added.

Robots perform dance at a booth during the third Global Digital Trade Expo in Hangzhou, east China's Zhejiang Province, September 25, 2024. The third Global Digital Trade Expo opened in Hangzhou on Wednesday, showcasing the latest technological innovations and business development of the digital economy sector. Picture: Xinhua / Xu Yu

VAST OPPORTUNITIES

China's advanced digital economy and vast market scale are creating immense opportunities for the world, said experts and attendees at the expo.

"For us, China is not just a sales market," said Lyu Feng, division head of public relations at Yokogawa China, a Japanese electric firm. He highlighted China's vast emerging industries, strong market demand, and numerous high-tech companies.

Lyu added that the company emphasizes collaborating with Chinese enterprises to explore new opportunities, particularly in digital transformation and carbon emissions management in the manufacturing sector.

Zhu Lili, vice president of AstraZeneca China, expressed that the pharmaceutical giant is "highly confident" in the Chinese market and its innovation ecosystem. She emphasized the company's goal to partner with more local firms to explore the application of digital technologies in healthcare, driving sustainable and high-quality growth for both the healthcare industry and the broader economy.

In the first half of 2024, China's cross-border e-commerce imports and exports reached 1.22 trillion yuan (about US$170 billion), an increase of 10.5% year over year, according to customs data.

Kazakhstan has opened national pavilions on Chinese e-commerce platforms like Alibaba and JD.com to promote products such as powdered milk, safflower oil, and honey, boosting bilateral e-commerce ties, Serik Korzhumbayev, editor-in-chief of Delovoy Kazakhstan, told Xinhua.

Yao Hongchun, vice president of the Thai Chinese New Generation Business Association, emphasized its potential for collaboration with China, mainly through advanced e-commerce technologies tailored to Thai consumers.

A foreign merchant consults about a small intelligent translation device at the third Global Digital Trade Expo in Hangzhou, east China's Zhejiang Province, September 25, 2024. Picture: Xinhua / Xu Yu

COOPERATION PLATFORM

"E-commerce can be successful and further developed in the long run if everyone can find their way in it, if it is based on close international cooperation, if it is diversified and if as many countries as possible are involved on both the manufacturer and the buyer side," Hungarian National Assembly's Deputy Speaker Lajos Olah said at the opening ceremony of the expo.

By July 2024, China has signed e-commerce cooperation memorandums of understanding with 33 countries spanning five continents.

Additionally, China has been involved in digital economy collaborations through multilateral frameworks like the Shanghai Cooperation Organization, BRICS, the APEC Economic Leaders' Meeting, and the G20, according to an e-commerce development report released by China's Ministry of Commerce during the expo.

Beyond exhibitions, this year's GDTE also featured multiple forums, meetings, and seminars, providing officials and industry leaders with platforms to exchange views and discuss prospects for international collaboration.

Through participating in the expo, Thailand is ready to work with partners in trade, investment, research, and development to expand its digital products and services, aiming to integrate into key global supply chains, Thailand's Deputy Permanent Secretary of the Ministry of Commerce, Ekachat Seetavorarat told Xinhua on the sidelines of the expo.

Madiyev also highlighted the GDTE as a unique opportunity to exchange experiences with leading global players in the digital economy and expand economic ties with other countries, particularly China.

Xinhua