South Korea, New Zealand and Italy Led China's Online Imports in First Quarter
Liao Shumin
DATE:  May 07 2019
/ SOURCE:  yicai
South Korea, New Zealand and Italy Led China's Online Imports in First Quarter South Korea, New Zealand and Italy Led China's Online Imports in First Quarter

(Yicai Global) May 6 -- South Korea, New Zealand and Italy spearheaded cross-border e-commerce imports into China in the first three months of this year.

The three countries, which have embraced China's Belt and Road Initiative, exported CNY1.9 billion (USD277.6 million), CNY1.2 billion and CNY240 million (USD35.6 million) worth of goods to China in the first quarter, the Shanghai Observer reported, citing data from the Shanghai customs bureau. Most were cosmetics, milk powder, health products and luxury consumer items.

Forty-two BRI countries sold goods to China through cross-border e-commerce in the period, an increase of 14 countries or 50 percent from a year earlier, Yicai Global learned. Italy signed up to the BRI in March, becoming the first member state of the Group of Seven to join.

The value of cross-border goods from South Korea jumped almost 30 percent to CNY1.9 billion, ranking it first among all BRI countries and accounting for 42.6 percent of exports from these states. The goods mainly included Sulwhasoo cosmetics, Whoo skin care products and Ryo shampoo.

BRI countries, especially New Zealand, are speeding up exports of green and health products. New Zealand's cross-border exports to China rose 22.3 percent to CNY1.2 billion, putting it in second place and making up 26.4 percent of all BRI countries' exports. It mainly shipped green and health products such as Karicare baby milk and Thompson's health care capsules.

Italy came in third, exporting CNY240 million worth of goods to China. That represented an almost 84 percent increase and accounted for 5.5 percent of BRI countries' exports. Its products included Versace and Gucci bags, Armani cosmetics and wine.

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Keywords:   Belt and Road,Korea,New Zealand,Italy