Shanghai Takes Steps to Boost Foreign Trade Growth with New Action Plans
Shanghai, known as a global financial hub and an important city for foreign trade in China, has recently implemented several measures to stabilize its favorable environment for foreign trade and stimulate growth. On July 20, the city issued the “Shanghai Action Plan for Promoting the High-quality Development of Cross-border E-commerce (2023-2025)” to further deepen the construction of the China (Shanghai) Cross-border E-commerce Comprehensive Pilot Zone. Additionally, Shanghai has released action plans related to the convention and exhibition economy, aiming to accelerate the building of an international convention and exhibition capital.
According to reports, in the first half of this year alone, Shanghai witnessed an impressive increase in the import and export of cross-border e-commerce, reaching 141.96 billion yuan, a year-on-year growth of 84%. Building upon this momentum, the “Action Plan” proposes various strategies to support the development of cross-border e-commerce. These strategies include accelerating the gathering of cross-border e-commerce entities, promoting the construction of demonstration parks, implementing the “Excellent Products Overseas” action plan, and encouraging enterprises to expand their cross-border e-commerce exports. The plan also highlights the need to optimize customs clearance services and improve the efficiency of cross-border e-commerce logistics.
To establish itself as a nationwide and global cross-border e-commerce logistics hub, Shanghai aims to expand international freight lines and enhance logistics service efficiency. The city plans to leverage the China-Europe trains and establish new international logistics channels. Additionally, Shanghai will develop a cross-border e-commerce logistics matching service platform, capitalizing on its seaports and airports to create a logistics hub that connects the whole country and extends its reach to the world.
In addition to focusing on cross-border e-commerce, Shanghai is also prioritizing the development of the exhibition economy. With the release of the “Three-Year Action Plan for Promoting the High-Quality Development of Shanghai’s Convention and Exhibition Economy and Building an International Convention and Exhibition City (2023-2025),” Shanghai aims to expand its total annual exhibition area to approximately 22 million square meters by 2025. The plan specifies that international exhibitions should account for 80% of the total exhibition area, and there should be at least 50 exhibition projects with a single exhibition area exceeding 100,000 square meters. Shanghai also aims to have more than 35 institutions certified by the International Association of the Exhibition Industry (UFI) and cultivate 2 to 3 exhibition groups with international competitiveness.
Zhang Guohua, deputy director of the Shanghai Municipal Commission of Commerce, emphasized the city’s efforts in promoting the exhibition economy. He highlighted that the total area of exhibitions in the first half of this year reached 7.59 million square meters, recovering to over 80% of the level in the same period in 2019. For the second half of this year, Shanghai plans to hold exhibitions with a total area of more than 8.8 million square meters, surpassing 90% of the level in the same period in 2019.
By implementing these action plans, Shanghai aims to position itself at the forefront of cross-border e-commerce and exhibition industries in China. The city strives to create a comprehensive functional hub that concentrates cross-border e-commerce main bodies, fosters efficient innovation of elements, and nurtures a complete industrial ecology. With a solid foundation in these sectors, Shanghai aims to boost its foreign trade growth and strengthen its position in the global market.
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