Development of Cross-Border E-commerce between China and Russia as part of the Belt and Road Initiative: Opportunities and Challenges

Abstract

This paper researches the opportunities and challenges of cross-border e-commerce development between Russia and China under the One Belt One Road initiative. Using SWOT analysis and official data, introduce the strengths, weaknesses, opportunities as well as threats of cross-border e-commerce development between Russia and China. The conclusion is that the current e-commerce market in China and Russia has great potential and has become a new growth point for foreign trade promotion and economic recovery, and its development has the strengths of political support and complementary product trade structures in both countries. In addition, the Belt and Road Initiative promotes the development of logistics infrastructure, an the rapid development of Internet technology and online trade provides opportunities for the development of e-commerce in China and Russia. However, in the current complex international situation, the development of cross-border e-commerce in both countries faces threats and challenges, such as the slow global economic recovery after the epidemic and the sanctions imposed on the Russian economy by Europe and the US. There are also its own weaknesses: imperfect cross-border payment and credit systems, limited trade models on the platform, and untimely logistics and delivery. Therefore, optimization and improvement of platforms, cross-border payments and cross-border logistics are needed. This study will contribute to enterprises exploring new paths for their own development, and optimizing the foreign trade structure of China and Russia as well as economic recovery.