Digital trade in the first half of the year hit record highs on both fronts! China's foreign trade resilience shows global competitiveness

At a time when the global economy is still searching for an anchor for growth amidst uncertainty.China Digital Tradedelivered an eye-catching "midterm answer sheet" - in the first half of this year, the total import and export of digitally deliverable services exceeded 1.5 trillion yuan,...cross-border e-commerceThe total amount of import and export climbed to 1.3 trillion yuan, the two core indicators both hit record highs, with real data to prove the strong kinetic energy of the integration of digital economy and international trade.

Some may ask what "digitally deliverable services" are. In fact, it has long been integrated into our daily lives: from overseas cloud computing services used by enterprises and cross-border software licensing, to digital creative solutions provided by designers for overseas clients, and even cross-border online education and training and medical consulting, these services, which do not require physical logistics and transportation, and which can be delivered through the Internet alone, are all included in this category. And the scale of 1.5 trillion yuan, equivalent to nearly 5.7 million yuan of digital services flowing across borders every minute, is behind the global recognition of China's digital technology service capabilities.

On the other hand, the 1.3 trillion yuan report card of cross-border e-commerce also deserves attention. Nowadays, through the cross-border e-commerce platform, Chinese merchants can send Yiwu Commodities, Foshan home appliances, Hangzhou clothing directly to the hands of consumers around the world; overseas brands also use this channel, maternal and child supplies, beauty care and other commodities quickly access to the Chinese market. From "buy global" to "sell global", cross-border e-commerce not only shortens the chain of international trade, but also allows small and medium-sized micro-enterprises to bypass the high threshold of traditional foreign trade, and directly participate in global competition. According to incomplete statistics, in the first half of the year, China's new cross-border e-commerce-related enterprises more than 100,000, more and more "small and beautiful" brands are going global through digital channels.

Behind this bright achievement is the unique resilience and potential of digital trade. As the relevant person in charge of the Ministry of Commerce said, digital trade is not a simple "trade + digital", but through digital technology to reconfigure the trade process, expand the trade boundary of the new form. In the past, foreign trade enterprises rely on offline exhibitions, traditional agents to obtain orders, subject to geographical and time constraints; today, through live banding, virtual reality showroom, big data precision matching, enterprises can 24 hours and global customers docking, trade efficiency has increased significantly. During the epidemic, many foreign trade enterprises relied precisely on the transformation of cross-border e-commerce and the expansion of digital service business to realize the "turnaround against the wind", and this transformation has now become the industry norm.

What's more, at a time when the global economic pattern is deeply adjusted, digital trade has become a "strategic buffer zone" and "new engine of growth" for China's foreign trade. On the one hand, it can effectively hedge the fluctuations of traditional foreign trade caused by rising logistics costs, geopolitics and other factors, and reduce trade risks through online and digitalization; on the other hand, China's advantages in the field of digital technology are being transformed through digital trade into aglobal competitiveness -- From the technological research and development of cross-border e-commerce platforms to the supporting services of digital payment and cross-border logistics, China has formed a set of relatively perfect digital trade ecosystems, which provides "China's program" for the development of global digital trade.

Looking ahead to the second half of the year, with the further application of 5G, artificial intelligence, blockchain and other technologies in the field of trade, digital trade will also unleash more potential. Perhaps in the near future, we can see more "digital services + physical goods" convergence trade model, such as the purchase of overseas smart devices synchronized with the acquisition of lifelong digital operation and maintenance services; we can also look forward to cross-border e-commerce in the return of goods, after-sales protection, and other aspects of the experience of the further upgrading, so that the global trade is more convenient, more inclusive.

From 1.5 trillion yuan to 1.3 trillion yuan, these two figures are not only the milestones of the first half of the year, but also a vivid footnote of the transformation of China's foreign trade to high-quality development. In the era of digital economy, China is taking an open and innovative stance to promote the continuous growth of digital trade and inject more certainty into the global economic recovery.