US SMEs eye Chinese market

2017-06-20 11:12 GMT+8 10676km to Beijing
Editor He Yan

More than 3,000 small- and medium-sized US businesses and entrepreneurs flocked to Detroit on Monday, as they sought opportunities to reach out to millions of Chinese consumers.

China is the world's largest online shopping market, with about 467 million online consumers spending about 26.1 trillion yuan (3.83 trillion US dollars) last year, up 19.8 percent year on year.

April 2, 2011: The abandoned and decaying manufacturing plant of Packard Motor Car in Detroit, Michigan. /VCG Photo

The once deserted motor city came to life as people from 48 states across the country flew in to attend Gateway' 17, a conference held by Chinese e-commerce giant Alibaba.

The conference, which will take place on June 20-21, will feature presentations and breakout sessions aimed at educating attendees on what and how to sell to China, especially through e-commerce platforms, so that they can grow their businesses and go global.

The number of attendees tripled conference organizers' original expectation. A Marriott hotel located in downtown Detroit received more than 700 guests on Monday, most of them came for the conference.

Jack Ma, president of China's e-commerce giant Alibaba, speaks in front of a giant screen displaying total gross merchandise volume (GMV) of Alibaba's online marketplace Tmall for Singles' Day shopping spree in Shenzhen, south China's Guangdong Province, November 11, 2016. /Xinhua Photo

According to Alibaba, the participants are primarily from product categories most popular among Chinese consumers such as fashion and apparel, fast-moving consumer goods, electronics, household products, and fresh food.

The e-commerce company chose Detroit for a reason. The small- and medium-sized enterprises (SMEs) there have the potential to lead cross-border e-commerce and set an example for SMEs around the world, Alibaba said.

The company added that Michigan, traditionally a manufacturing and agricultural state, may also be able to seize the opportunity to revitalize its economy.

 (Source: Xinhua)

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