The Joint Signing Ceremony for the Jinan Trading Group is held during the fifth China International Import Expo in Shanghai on Nov 5. [Photo/Jinan Daily]

The Cainiao Center Warehouse in Jinan, Shandong province, signed a purchase order worth 1 billion yuan ($138 million) with Japanese and Korean enterprises at the Joint Signing Ceremony for the Jinan Trading Group during the fifth China International Import Expo in Shanghai on Nov 5.

The Cainiao Center Warehouse, a 60,000-square-meter bonded warehouse, settled in the Jinan Comprehensive Bonded Zone on Oct 24, and has attracted a number of cross-border e-commerce platform enterprises to carry out cross-border e-commerce import and export business.

Jinan is set to build a national first-class cross-border e-commerce comprehensive pilot zone and by leveraging local resources to provide comprehensive services for cross-border e-commerce businesses, the Cainiao Center Warehouse is expected to give a boost to the development of the cross-border e-commerce industrial cluster in the city.

In recent years, Jinan has been advancing opening-up and its platforms for opening-up such as the Jinan Area of China (Shandong) Pilot Free Trade Zone, Jinan Comprehensive Bonded Zone, and Jinan Cross-border E-commerce Comprehensive Pilot Zone have been developing rapidly.

In 2021, Jinan's cross-border e-commerce import and export value increased by nearly 40 times year-on-year, and the Jinan Comprehensive Bonded Zone's cross-border e-commerce import and export volume hit 4.43 billion yuan, which was 37 times the total value in 2020.