Chinese e-commerce platforms plan to buy more consumer goods via CIIE
Published: Nov 03, 2019 10:25 PM logo File photo: IC

With the ongoing consumption upgrade bid, Chinese e-commerce platform such as Suning plans to purchase more electronic products, beauty products, home appliances and beverages from South Korea and Japan as well as countries and regions along the Belt and Road Initiative, such as Italy and other European countries, at the second China International Import Expo (CIIE).

"CIIE is a great opportunity for Suning to bridge Chinese consumers and foreign brands. As more Chinese pursue high-quality living standards, we could diversify our product lines and expand the global supply chain to satisfy Chinese residents' consumption upgrade," a spokesperson from Suning, told the Global Times. The 2nd CIIE kicks off on Tuesday and ends on November 11 in Shanghai. 

So far, about 400 overseas companies have actively contacted Suning, looking for business cooperation chances at the 2nd CIIE.

Since the first CIIE, the sales of overseas products soared more than 200 percent at the e-commerce platform, the fattest among all business categories. Specifically, the sales of daily necessities imports rose 358 percent year-on-year, while sales of imported health care products soared 102 percent at the platform.

While further cultivating the markets in first-tier and second-tier cities, Suning said that another focus of its business is to expand into smaller cities and target third-tier and fourth-tier Chinese cities with more affordable and high-quality overseas commodities. 

It is expected that the Chinese market for import goods and services will exceed $30 trillion and $10 trillion, respectively, in the next 15 years, according to a statement Suning sent to the Global Times on Sunday. 
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