Depth report

　　

On November 9, the E-commerce New business form and new Development Forum was held in Wuzhen, Zhejiang province. Yang Liyu, deputy Secretary General of the Asian Financial Cooperation Association, said at the forum that in June this year, with the official entry into force of the Regional Comprehensive Economic Partnership Agreement (RCEP) for the Philippines, it also marks the full entry into force of RCEP for 15 signatories, and the world's largest free trade area opens a new chapter in development. The "Belt and Road" and "RCEP" two-wheel drive have brought important development opportunities for cross-border e-commerce.

Yang Liyu said that this year is the tenth year of the Wuzhen Summit of the World Internet Conference, and the tenth year of the "Belt and Road" initiative. In the past ten years, China has vigorously introduced preferential support policies, gradually established cross-border e-commerce free trade zones, and continued to release new momentum for foreign trade growth. According to data from the Ministry of Commerce, the size of China's cross-border e-commerce market in 2022 reached 15.7 trillion yuan, an increase of 10.56% compared with 14.2 trillion yuan in 2021. The proportion of cross-border e-commerce in China's imports and exports of goods has also increased from 1% in 2015 to 5% in 2022.

In this era of rapid development of globalization, information and digitalization, e-commerce, as a revolutionary business model, is also profoundly affecting and changing the traditional mode of operation of global trade.

First, e-commerce has significantly improved the efficiency and quality of global trade. E-commerce makes the boundary of global trade more blurred, enterprises can break through the geographical restrictions through the e-commerce platform, directly touch the global consumers, and promote the optimal allocation of multilateral resources and mutual benefit and win-win between enterprises. In addition, in the e-commerce environment, products, supply chains, payment systems, logistics and other production factors can be quickly circulated, improving the efficiency and response speed of the supply chain, thereby shortening the production cycle and improving the efficiency and quality of global trade.

Second, e-commerce has expanded the space for diversified development of global trade. E-commerce has greatly reduced the threshold of global trade, and small and medium-sized enterprises have accelerated their "going to sea" to enjoy the dividends of the global market. At the same time, under the e-commerce environment, many virtual enterprises, foreign trade companies and other diversified trade entities that rely on network platforms and electronic information technology services have also been born. More and more trade operators can participate in international trade activities in the context of cross-border e-commerce development, expanding diversified development space for global trade.

Third, e-commerce has promoted changes in global trade rules and institutions. The rapid development of e-commerce has changed the operating environment of global trade, promoted the continuous digital innovation of traditional trade methods and dispute settlement mechanisms such as logistics, payment and arbitration, effectively promoted the reform of global trade rules and systems, and optimized the development environment of enterprises.

In addition, Yang Liyu believes that the popularity and development of e-commerce has put forward new demands and challenges for financial services. In recent years, financial institutions have actively integrated into the new business forms of e-commerce development, and built a financial service system compatible with the development of e-commerce. In view of the problems of high-efficiency payment and settlement costs, financing difficulties, few product types and high risks of e-commerce enterprises, they have made continuous innovations in payment, insurance, financing and other fields. New financial products, new financial services and new risk management tools have emerged at the historic moment, providing strong support for the high-quality development of e-commerce.