RESEARCH ON CHINA'S CROSS-BORDER E-COMMERCE BASED ON THE BACKGROUND OF DIGITAL TECHNOLOGY

Abstract

Against the backdrop of economic globalisation and the rapid development of digital technologies, the digital economy, which applies internet-based digital technologies to the production and trade of goods and services, is becoming an increasingly important component of the global economy. E-commerce, on the other hand, is a business activity centred on the exchange of goods using information network technology as a means. So e-commerce is growing with the development of digital technology and is becoming a vehicle for digital technology in business. At the same time, with the evolution of mobile technology and the replacement and spread of electronic products, cross-border e-commerce in China has developed and expanded rapidly, becoming an integral feature of modern business. China's e-commerce market continues to expand, growing from US$0.94 trillion in 2011 to US$5.39 trillion in 2020, with an average growth rate of 47%, China's e-commerce growth rate is already higher than the global average. This research integrates recent data on e-commerce and cross-border e-commerce in China and estimates the fraction of cross-border e-commerce in China's e-commerce, claiming that cross-border e-commerce has become an important part of China's e-commerce.Moreover, this paper employs SWOT analysis to assess and summarize the current strengths, weaknesses, opportunities, and threats of cross-border e-commerce in China, coming to the conclusion that China's cross-border e-commerce platforms are developing rapidly and the country is the world's largest e-commerce market and the third largest cross-border online shopping market in the world, along with policy support from the Chinese government and the establishment of logistics warehouses, but faces many challenges such as lagging cross-border trade services, relatively high logistics costs and contradictory product quality, which are not conducive to development. Finally, suggestions are made to promote the development of cross-border e-commerce in China through the development of independent brands, good market positioning, strengthening quality management and efforts to reduce logistics costs.