Qingdao's trade of cross-border e-commerce in 2022 doubled the figure of 2021, reaching 62.7 billion yuan ($9.25 billion) and accounting for 6.9 percent of the city's total foreign trade volume. It ranked first in Shandong province.

The eastern coastal city has launched an array of policies and measures to support the development of cross-border e-commerce public overseas warehouses, independent logistics stations, retail import and export outlets, comprehensive service platforms and other resources.

The service center of Qingdao Cross-border E-commerce Comprehensive Pilot Zone [Photo/Qdcaijing News]

The West Coast New Area, Chengyang, Jiaozhou, Jimo and other districts and county-level cities in Qingdao are encouraged to improve the cross-border e-commerce industry chain from multiple dimensions, such as expanding market players, improving the logistics system, building the service system and innovating financial products that are in line with local conditions.

The Qingdao Municipal Bureau of Commerce has cooperated with Qingdao Customs to optimize the supervision process of cross-border e-commerce retail import and export commodity returns, and to implement the six-hour release of imported goods from RCEP parties.

The city has implemented the tax refund (exemption) policy for cross-border e-commerce exports from overseas warehouses, and implemented other policies to support foreign trade enterprise development.

In 2023, Qingdao will continue to encourage cross-border e-commerce and other new business forms and models to grow even quicker to foster new drivers of foreign trade, said local officials.

The China-Japan-ROK Consumption Zone E-commerce Experience Center in Qingdao [Photo/Qdcaijing News]