Commodity flow, information flow, capital flow, etc., have constructed a long and complex foreign ecological trade chain. The epidemic has caused the suspension of traditional offline foreign trade exhibitions, disrupting the traditional information flow of the foreign trade industry, and the large ship jam in the Suez Canal has affected the circulation and turnover of commodities. Hundreds of rivers are far away and close at hand. The foreign trade industry is a microcosm of China’s deep participation in economic globalization.
Minister of Commerce Wang Wentao previously stated that after the epidemic, new forms and models of foreign trade had played an important role, such as cross-border e-commerce and market procurement trade methods. In 2020, cross-border e-commerce imports and exports will be 1.69 trillion yuan, an increase of 31.1%. In 2020, market procurement exports were 704.54 billion yuan, an increase of 25.2%. In the next step, the Ministry of Commerce will further expand its support for new business forms and models and contribute to stabilizing foreign trade this year.
The epidemic has accelerated the arrival of the dividend window period for cross-border e-commerce. On October 28, 2020, Zhang Kuo, general manager of Alibaba International Station, said in an interview with reporters that under the global epidemic, the digital economy is accelerating. In the U.S. market, the e-commerce penetration rate in 2009 was only 6%. The annual e-commerce penetration rate is 16%, and it has only increased by 10% in 10 years. However, in April 2020, affected by the epidemic, the penetration rate of e-commerce in the United States has increased to 33%.