Economic Watch: China's "Double 11" shopping festival injects vigor into foreign trade

NANNING, Nov. 13 (Xinhua) -- Vietnamese e-commerce anchor Luong Thi Hong Thom routinely performs shopping livestreaming in Dongxing, a border city in south China's Guangxi Zhuang Autonomous Region, bringing quality products to her Vietnamese fans on TikTok's online sales platform.

"Numerous young people in Vietnam actively engage with TikTok and are well-informed about the big discounts offered during China's 'Double 11' shopping extravaganza," said the 27-year-old, who works for Guangxi Haina Zhongpin Technology Co., Ltd.

China's "Double 11" shopping spree took place from Oct. 31 to Nov. 11 this year, and has mainly been a domestic affair since its debut in 2009. However, in recent years, with Chinese e-commerce giants such as Alibaba, JD.com, Pinduoduo and others expanding into international markets, it has been transformed into a global celebration for consumers and businesses alike.

"Since 2021, we have been engaged in cross-border e-commerce on TikTok, with a primary focus on the Southeast Asian market, especially in Malaysia, Vietnam and Thailand," said He Yaohai, chairman of Guangxi Haina Zhongpin Technology Co., Ltd.

He added that the company's TikTok accounts in the areas of household supplies and clothes have accumulated over 10 million followers in Southeast Asia.

In addition to the promotional activities offered by sellers on the platforms, major e-commerce platforms also introduced various discount campaigns to attract consumers during the "Double 11."

Cross-border e-commerce platforms, such as Alibaba's Lazada, have announced plans to provide differentiated sales events tailored to various countries and regions during the event.

The growth of cross-border e-commerce has also boosted the popularity of imported goods among Chinese consumers during the shopping festival.

The first four hours of sales on Tmall Global on Oct. 31 saw transactions of 1,540 international brands increase over 100 percent from those last year, with 268 new brands experiencing a 10-fold increase.

According to data from China's Ministry of Commerce, the import and export value of cross-border e-commerce reached 1.7 trillion yuan (about 237 billion U.S. dollars) from January to September this year, a year-on-year growth of 14.4 percent. This accounted for 5.5 percent of the total foreign trade in goods during the same period.

The immense growth potential of cross-border e-commerce in China is becoming a new driving force for foreign trade expansion and economic development, said Zhu Keli, a researcher with the China Institute of New Economy.

With the rise of digital infrastructure and advancement in information technology, e-commerce platforms and logistics systems are becoming more efficient in cross-border services, enhancing the shopping experience of consumers, Zhu added.