China has continued to open up and expand imports by promoting the rapid development of the digital economy and cross-border e-commerce, making it an attractive global brand market for overseas companies.
The China International Import Expo (CIIE) is one of the world's largest trade fairs, offering a big stage for overseas brands and a "fast lane" for Chinese online companies to introduce more goods to the market.
"The online economy has given us consumers more choices. As the e-commerce market in China is set to expand long-term, new shopping platforms like livestreaming apps are growing," Peng Lihui, secretary-general of the China Electronics Chamber of Commerce Consumers, told CGTN.
"Consumers can have clear views of these products they want to buy."
Overseas consumer markets have been plagued by the COVID-19 pandemic and cross-border e-commerce has paved the way for foreign brands to enter China. The transition for products from the booth to the online shopping cart is getting faster and faster.
The Great Britain Exhibition at the 3rd CIIE in Shanghai, China, November 5-10, 2020. /CGTN
"Because of COVID, the real implications and benefits of the free trade agreement have not been explored," said Muhammad Irfan, trade and investment counselor for the Consulate General of the Islamic Republic of Pakistan in Guangzhou.
"Recently, e-commerce has had a more important stance than others. Due to the COVID-19 outbreak, people are not willing to go out. There are so many restrictions, people are preferring to shop online," he added.
Cross-border e-commerce is expected to play a bigger role in revitalizing foreign trade. Accelerating digitalization can help small and medium-sized enterprises withstand the pandemic's affect on trade activities.
"Cross-border e-commerce is an important way for us to publish new products. We can meet the demand of the Chinese market and the preference of the customers on this new product," said Yang Chunyan, an exhibitor at the CIIE.
Analysts say Chinese enterprises should focus on product quality, and maintain global market shares as well as the international supply chain to promote exports.