China-Base Ningbo Group Co Ltd and Newegg.com, a US-based online retailer of computer hardware and software, inaugurates an e-commerce operation center in Ningbo, East China's Zhejiang province on April 23. [Photo/cnnb.com.cn]

China-Base Ningbo Group Co Ltd, a leading foreign trade company in Ningbo, has teamed up with Newegg.com, a US-based online retailer of computer hardware and software.

The two companies recently inaugurated an e-commerce operation center in Ningbo, East China's Zhejiang province.

The facility, the first of its kind set up by Newegg in China, is expected to help more local small and medium-sized enterprises tap markets overseas by offering services ranging from livestreaming, financing to overseas warehousing.

Cross-border e-commerce has become a new engine fueling local foreign trade growth in Ningbo.

The city's trade volume for cross-border e-commerce platforms in 2020 amounted to 148.68 billion yuan ($22.87 billion), up 16 percent year-on-year, according to official data. Despite this growth, there are still many factors, such as the lack of international e-commerce platforms, that is hindering further growth, according to Chen Lizhen, deputy head of the Ningbo municipal bureau of commerce.

The partnership with Newegg, he added, will no doubt boost Ningbo's cross-border e-commerce development.

Zhou Yang, president of China-Base Ningbo Group Co Ltd, described the company's partnership with Newegg as "an alliance between giants".

One of the largest online retailers of computer hardware and software in the world, Newegg has six large storage sites in North America with millions of square feet of intelligent facilities, while China-Base Ningbo Group is among the top 500 companies in China and has seen its foreign trade volume top Ningbo for many years.