Cargo piles in a port in Hangzhou, capital of East China’s Zhejiang province. [Photo/hznews.hangzhou.com.cn]

The cross-border e-commerce imports and exports of Hangzhou, capital of East China’s Zhejiang province, during the first four months of this year hit $5.335 billion, according to data released at a Hangzhou meeting on cross-border e-commerce held on May 31.

During the Jan-April period, the number of cross-border e-commerce shops in Hangzhou reached 48,265. The number of cross-border e-commerce shops, whose yearly turnover exceeds 20 million yuan ($3 million), stood at 411.

The estimated business value of 23 unicorns and quasi-unicorns in cross-border e-commerce exceeded $100 million.

China’s strong supply chain system is one of the reasons for the burgeoning growth of cross-border e-commerce, said Chen Weijing, deputy director of the Hangzhou free trade committee.

Chen also said that favorable policies released by the government of Hangzhou also prompted the growth of the city’s cross-border e-commerce.

According to Chen, the Hangzhou Cross-Border E-Commerce Comprehensive Piloted Area will hold about 10,000 cross-border livestreaming activities to promote healthcare products throughout this year.

Hangzhou is also poised to initiate a campaign aiming to help about 10,000 small and medium-sized companies to set foot in cross-border e-commerce.

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