On September 10, 2021, Vice Minister Ren Hongbin attended the China-ASEAN Silk Road E-Commerce Forum in Nanning, Guangxi and delivered a speech. Hosted by the people’s Government of Guangxi Zhuang Autonomous Region and with the theme of “New Era for E-Commerce, New Impetus for Development”, the forum focused on such hotspot issues as cross-border e-commerce and live streaming e-commerce, and envisioned the prospects of China-ASEAN “Silk Road e-commerce” cooperation.

Ren Hongbin said that e-commerce, with its flourishing new business forms and models, has become a key channel of household consumption, an innovative form of foreign trade and a critical driver for economic growth. “During the 13th Five-Year Plan period, total e-commerce transaction in China expanded from RMB26.10 trillion to RMB37.21 trillion, growing at an annual average rate of 9.3%; the average annual growth rate of online retail sales and cross-border e-commerce reached nearly 25% and 30% respectively. In combatting the coronavirus, e-commerce has demonstrated huge vitality and resilience, effectively underpinning global trade facilitation and joint pandemic response while refreshing impetus for world economic recovery and growth.”

Ren noted that as the Chinese government is building the new development paradigm at a faster pace, it is fostering “Silk Road e-commerce” as a new driver for trade and investment growth. So far, China has established bilateral e-commerce cooperation mechanisms with 22 countries on five continents for multi-level cooperation on policy exchanges, planning alignment, industry promotion, subnational cooperation and capacity building in various fields, with a view to enrich “Silk Road e-commerce” cooperation and explore new trade and economic cooperation areas while enhancing mutual assistance amid the pandemic. China is also pushing for an open and transparent e-commerce rules system for mutual benefit and win-win outcomes to create a favorable environment for common prosperity of e-commerce along the Belt and Road.

“Deepening e-commerce cooperation with ASEAN bears strategic significance for a closer China-ASEAN community with a shared future. China looks forward to work with ASEAN to explore cooperation on “Silk Road e-commerce” to share the dividend of the digital economy and promote economic and social development as well as regional prosperity,” Ren highlighted.

Successfully held for eight sessions, the China-ASEAN Silk Road E-Commerce Forum is a key event under the China-ASEAN Expo. This year’s forum combines online and on-site participation, with the attendance of 200 representatives from MOFCOM, ASEAN countries, e-commerce companies and the academics, as well as more than 51,000 visitors.