Hainan cross-border e-commerce retail import volume multiplies
Since the release of the Master Plan for the Construction of the Hainan Free Trade Port on June 1, 2020, which was followed by the implementation of a number of preferential policies, cross-border e-commerce in the province has developed rapidly. In 2020, cross-border e-commerce retail import volume amounted to 526 million CNY (about 81.2 million USD), an increase of 7.53 times the previous year’s figures. Meanwhile, the number of cross-border e-commerce companies is also rising fast. These companies, which distribute imported products, mainly pet food, perfumes, and cosmetics, are making record sales. Currently, a total of 195 cross-border e-commerce companies have registered in Hainan, including Tmall Global, Kaola, Zhuozhi Group, Onion Global, and the Fujian Dry-port Group.
In July of 2018, Haikou set up the China (Haikou) Integrated Pilot Zone for Cross-border E-commerce. At the beginning of 2020, the whole island province of Hainan was included in the Cross-border E-commerce Pilot Zone for retail import. In April, 2020, the city of Sanya was approved as an Integrated Pilot Zone for Cross-border E-commerce, and in November of 2020, the first 1210 bonded mode transaction was successfully completed in Yangpu.
Next, Hainan will take advantage of the province’s preferential policies to continuously explore new cross-border e-commerce online business modes such as integrating online and brick-and-mortar shopping in order to bring in more cross-border e-commerce companies to conduct business here on the inviting shores of the Hainan Island Free Trade Port.