Ningbo unveils plan to become global cross-border e-commerce hub

Ningbo has recently rolled out an ambitious plan to transform itself into an international hub city for cross-border e-commerce under the motto "Buy Global, Sell Global" by 2027.

The comprehensive plan outlines ambitious targets set by Ningbo for the expansion of cross-border e-commerce:

By the end of this year, the city aims to achieve a cross-border e-commerce export volume of 45 billion yuan ($6.3 billion), with cross-border e-commerce import and export accounting for over 20 percent of Zhejiang's total.

Looking towards 2027, Ningbo envisions doubling its cross-border e-commerce export volume from the 2024 level, significantly boosting its contribution to the city's foreign trade exports. The city anticipates that the value of cross-border e-commerce purchases of bonded imports will exceed 35 billion yuan, solidifying its position as a national leader in cross-border e-commerce imports and exports.

Through a strategic roadmap, Ningbo plans to attract over 1,200 new entities actively engaged in cross-border e-commerce by 2027. The city aims to surpass 24 leading enterprises with annual transaction volumes exceeding 1 billion yuan, while the number of benchmark sellers with annual transaction volumes surpassing 100 million yuan is expected to exceed 200. Furthermore, Ningbo is striving to establish at least one cross-border e-commerce platform with an annual transaction scale exceeding 10 billion yuan.