Cross-border e-commerce has become a new engine for the high-quality development of Shenzhen's foreign trade, according to a Shenzhen Special Zone Daily report.

In 2023, Shenzhen's cross-border e-commerce imports and exports increased 75.20% year on year to exceed 300 billion yuan (US$41.70 billion), a new record high and further consolidating Shenzhen’s status as a leader in the cross-border e-commerce trade in the country, the report said.

Official data show that the number of cross-border e-commerce export firms in Shenzhen now jumps to more than 150,000, accounting for almost half of Chinese sellers on online platforms including Alibaba.com, AliExpress, Lazada and eBay, the report said, adding that one-third of Chinese sellers on Amazon are based in Shenzhen.

Currently, Shenzhen has 6 national-level e-commerce firms, 5 national-level e-commerce bases and 7 provincial-level cross-border e-commerce firms. Shenzhen has nurtured 10 listed cross-border e-commerce companies, ranking first in the country. Shenzhen also has more than 100 websites operated by cross-border e-commerce companies, according to the report.

Shenzhen firms have built and operated more than 350 overseas warehouses globally, with combined construction area of more than 3.8 million square meters and ranking among the top in the country. Among the 21 provincial-level public overseas warehouses in Guangdong, 17 are built and operated by Shenzhen firms.

In addition to developed countries and regions such as North America, Europe and Australia, Shenzhen firms have also seen rapid growth in the construction and operation of overseas warehouses in "Belt and Road" countries, with an area of more than 630,000 square meters, especially in Southeast Asia and the Middle East, the report said.

All-cargo flight destinations at Shenzhen’s airport have reached 59, covering five continents including North America, Europe, Asia, Oceania and South America. Among the flights, there are 9 dedicated cross-border e-commerce routes, reaching cities such as Paris and London. The city’s ports have seen 24 cross-border e-commerce maritime express lines, with an average transportation time reduced by more than 20% compared with traditional routes. Shenzhen’s China-Europe freight rail service, first launched in the city in August 2020, has 18 export routes to reach 41 countries and regions in Europe and Asia.

With a sound policy system and superior business environment, Shenzhen has not only attracted well-known domestic platforms, such as Douyin, JD.com, SHEIN and Alibaba, but also global cross-border e-commerce platforms such as Shopee, OZON and Jumia that have built their operation headquarters and research and development centers in Shenzhen.

Amazon launched its first world innovation center in Shenzhen in December last year. Mercado Libre, the largest e-commerce platform in Latin America, will soon set up its China headquarters in the city, the report said.