Alibaba CEO: China's manufacturing transformation an important impetus for global e-commerce
Consumers and the manufacturing industry are key drivers for global cross-border e-commerce, said Alibaba's CEO Zhang Yong at a global e-commerce summit on Dec. 21. The Electronic World Trade Platform (eWTP) must rely on the strength of both, and maintain confidence in the positive transformation of China's manufacturing industry, Zhang stated.
The eWTP program, initiated by Alibaba's Jack Ma, is a world trade platform led by the private sector. Through the participation of various stakeholders, it is designed to facilitate public-private dialogue and promote the participation of small and medium-sized enterprises in the development of new economic and trade rules. The proposal was included in the Communique of the G20 Hangzhou summit in September.
Zhang pointed out that eWTP was introduced in the context of the emergence of a new business base, represented by payments, cloud, smart logistics and the like. However, the development of eWTP, and especially the development of cross-border e-commerce, must pay attention to the power of Chinese consumers and manufacturing.
Changes to Chinese consumers' living standards and lifestyles, as well as the development of China's manufacturing industry, are the two engines that have boosted China's rapid economic development and brought enormous changes to the Chinese market. At present, thanks to the interconnection facilitated by Internet technology, Chinese consumers and the manufacturing industry are changing global trade rules through cross-border e-commerce.
"All participants in cross-border e-commerce, no matter the government or enterprises, should acknowledge the wisdom of consumers, which comes from global information shared online," said Zhang.
Meanwhile, he noted that the development of cross-border e-commerce can confidently rely on China's manufacturing reform and innovation. As consumer demands change, big data and technology-driven manufacturing enterprises will rise, making them a driving force for global e-commerce.
Zhang pointed out that eWTP was introduced in the context of the emergence of a new business base, represented by payments, cloud, smart logistics and the like. However, the development of eWTP, and especially the development of cross-border e-commerce, must pay attention to the power of Chinese consumers and manufacturing.
Changes to Chinese consumers' living standards and lifestyles, as well as the development of China's manufacturing industry, are the two engines that have boosted China's rapid economic development and brought enormous changes to the Chinese market. At present, thanks to the interconnection facilitated by Internet technology, Chinese consumers and the manufacturing industry are changing global trade rules through cross-border e-commerce.
"All participants in cross-border e-commerce, no matter the government or enterprises, should acknowledge the wisdom of consumers, which comes from global information shared online," said Zhang.
Meanwhile, he noted that the development of cross-border e-commerce can confidently rely on China's manufacturing reform and innovation. As consumer demands change, big data and technology-driven manufacturing enterprises will rise, making them a driving force for global e-commerce.
