Hangzhou, China /
The recent Global Digital Trade Expo (GDTE), held in Hangzhou, Chinaconcluded leaving a significant mark in the promotion of global digital commerce.
The event, which saw the participation of more than 1,500 companies, including 300 international ones, offered a vibrant platform for trade cooperation and technological innovationconsolidating China as a leader in digital commerce and growth engine for the global digital economy.
Innovation and international collaboration in China
China, recognized worldwide as a leader in e-commerce and digital technologiesshowed its commitment to digital transformation during GDTE 2024.
Attendees, coming from various industries, experienced cutting-edge innovations such as AI-powered robots and hydrogen drones, as well as accessing more than 400 new products and technologies developed in China.
Kazakh Minister of Digital Development, Zhaslan Madiyev, highlighted how China’s experience in e-commerce is key for developing countries, such as Kazakhstan, seeking to reduce the digital divide. “China’s experience offers valuable insights to foster global digital growth”Madiyev stated.
This event also highlighted the growing collaboration between China and Africa in the digital economy. Kilimallan e-commerce platform founded by Chinese entrepreneurs in 2014, has generated more than 10,000 local jobs in Africaevidencing the tangible impact of this bilateral cooperation on the African continent.
Digital commerce has been key in consolidating trade relations between China and the world. In the first half of 2024, China’s cross-border e-commerce imports and exports reached 122 trillion yuan, an increase of 105% year-on-year, according to official data.
Kazakhstan has strengthened its ties with China by opening national pavilions on Chinese platforms such as Alibaba and JD.com, taking advantage of the opportunities offered by the Chinese market to promote products such as honey, safflower oil and milk powder. This type of collaboration is an example of China’s growing role as a driver of cross-border digital trade.
China as a global power in the digital economy
Attendees at GDTE 2024 highlighted China’s leadership in the digital economy. Lyu Feng, head of public relations of Yokogawa Chinahighlighted that China not only represents a key market for the sale of products, but also offers great opportunities for collaboration in digital transformation and carbon emissions management within the manufacturing sector.
For its part, Zhu Lili, vice president of AstraZeneca Chinashowed the company confidence in the Chinese market and its innovation ecosystemreinforcing the commitment to partner with local companies to integrate digital technologies in healthcare, aligning with China’s efforts to lead the digital health sector.
During the exhibition, the relevance of multilateral cooperation to boost digital trade in China. As of July 2024, China has signed more than 30 memorandums of understanding on e-commerce cooperation with countries on five continents, demonstrating its role as a pioneer in the global digital economy.
He vice president of the Hungarian National Assembly, Lajos Olahemphasized the importance of international cooperation in the success of Chinese digital commerce.
“Electronic commerce can develop in the long term if it is based on international cooperation and market diversification”Olah commented.
The Global Digital Trade Expo was not only a showcase of China’s technological innovations, but also a platform to forge strategic partnerships that will boost global economic growth.
With the digital economy at the center of its development, China continues to consolidate itself as a digital commerce superpower world.
FCA
