To mark its first anniversary of operations in New Zealand, Bank of China (NZ) Limited is bringing 20 Chinese cross-border e-commerce companies to New Zealand for its 'Building Online Distribution in China' event on Friday, November 27, 2015.
A statement from the bank says local export manufacturers are being invited to attend to discuss and explore e-commerce opportunities within the fast-growing Chinese economy, including the potential to secure trade arrangements with visiting e-Commerce platforms.
China has the largest internet population, with 649 million internet users, or 19 percent of the world's population, according to recent CNN research. China is also the biggest e-commerce market in the world, with US$62 billion in sales projected for 2015. China's mobile shopping alone grew 239 percent in 2014 and is expected to increase fivefold to RMB4.5 trillion total sales in 2018.
Bank of China (NZ) chief executive officer David Wang says the online shopping experience is evolving and expanding as a result of a rising middle class income and access to new technology, which is making shopping easier and more convenient.
"China is seeing changing trends in consumer tastes and an increasing expectation of quality goods," says Wang. "Traditionally, Chinese online shoppers favoured apparel, beauty products, electronics and household appliances.
"We are still seeing growth in all these areas, but also in packaged and fresh foods due to quicker delivery times and advanced logistics. The potential for New Zealand businesses to participate in China's rapidly shifting market represents a significant opportunity.
"By hosting our ‘Building Online Distribution in China’ event we aim to promote New Zealand's products and act as a bridge between China and New Zealand. Attendees will be able to meet face-to-face with Chinese specialists to exchange ideas, experiences and insights, so as to lay the solid foundation with customers, markets, resources and operations in their cooperation."
"This event also indicates that Bank of China has entered a new stage of financial services for cross-border e-commerce in New Zealand. In order to promote bilateral cooperation and economic and trade development, we will strengthen the role of bridge by providing financial services, such as the trade settlement and financing, cross-border RMB business and M&A financing and the third party payment platform."
Each visiting e-Commerce company will introduce their platform to explain the different region and market characteristics they represent, including share an outlook on the status and trends of cross-border e-Commerce for them in China. This will include a matching making session for local companies to discuss potential trade partnership opportunities in supporting of developing a robust and sustainable online distribution strategy for China.