Cross-border e-commerce surges

With increasing overseas brand penetration and an ongoing online shopping boom, cross-border e-commerce has surged over the past few years and is assuming an increasing role in China's total import and export market.

According to data released by online e-commerce research center 100ec.cn, China's cross-border e-commerce trade reached a market size of 3.6 trillion yuan ($568 billion) in the first half of 2017, up 30.7 percent year-on-year. The number will hit 9 trillion yuan in 2018, and 12 trillion yuan in 2020, according to iimedia.cn.

"Cross-border e-commerce brings innovation to China's online retail," said Feng Gengzhong, dean of The School of Management at Xi'an Jiaotong University at a panel discussion during The Third Silk Road International Exposition and the Investment and Trade Forum for Cooperation between East and West China.