The fifth Shandong Cross-Border E-Commerce Ecosystem Summit was held on Nov 28 in Jinan, capital of Shandong province.

The summit was attended by more than 500 representatives from leading domestic enterprises and research institutions in finance, logistics, credit, and other sectors related to cross-border e-commerce. They discussed the industrial chain and ecological map for the development of cross-border e-commerce in the 5G era and explored new paths for the development of foreign trade.

The fifth Shandong Cross-Border E-Commerce Ecosystem Summit is held on Nov 28 in Jinan, Shandong province. At the event, a slew of preferential policies were launched to promote the development of cross-border e-commerce. [Photo/iqilu.com]

According to organizers, the summit, themed around "digital ecology and industrial interconnection", was meant to help enterprises expand sales channels and build cross-border e-commerce into a growth driver for foreign trade.

A special product selection activity was held on the sidelines of the summit, at which more than 30 local companies displayed their products and discussed cooperation with cross-border e-commerce platforms such as Amazon, eBay, Wish, and Shopee.

"We have reached preliminary cooperation intention agreements with about 50 companies," said Wang Peng, business manager of Shandong Lvhe Plastic Product Co.

"This activity has taught people a lot about our products. With people's increasing environmental consciousness, degradable dinnerware boxes are also gradually becoming popular, which will contribute to the company's future development."

Guan Jing, manager of Qingyun Aufriga Hardware Machinery Co, said that Alibaba's international website has allowed the company to sell its products to more than 20 countries and regions, accounting for 80 percent of the company's total sales.

Guan added that her company will continue focusing on the development of cross-border e-commerce.

Exhibitors introduce their products at a product selection activity held on the sidelines of the summit. [Photo/iqilu.com]

Chen Xiaoming, manager of the international business department of the Shandong branch of China Construction Bank, said that the bank has launched a slew of preferential policies, including tax refund loans, export loans, and credit insurance loans, to support small and micro enterprises who export their products.

"We hope to offer more effective financial assistance to attract more e-commerce customers to Shandong and increase cross-border e-commerce in the province."

Cross-border e-commerce is becoming a new driving force behind foreign trade in Shandong. Official statistics showed that in the first 10 months of the year, the province's imports and exports totaled 1.66 trillion yuan ($240 billion), up 5.9 percent year on year. Exports grew by 4.7 percent and imports by 7.3 percent.

Shandong now has 136 provincial-level cross-border e-commerce enterprises, and more than 15,000 traditional foreign trade enterprises and manufacturing enterprises in the province have benefited from cross-border e-commerce.

An exhibitor introduces his products at the product selection activity. Enterprises in Shandong have benefited from cross-border e-commerce. [Photo/iqilu.com]