(Yicai Global) Nov. 8 -- Many Chinese e-commerce giants, including Suning.com, Alibaba Group Holding and JD.com, have taken advantage of the strong global presence at the China International Import Expo in Shanghai to sign multiple deals with overseas brands.
Some 113 new foreign products joined Alibaba's Tmall global site and 10 countries including Thailand will open flagship stores on the platform thanks to the CIIE. JD.com has unveiled a three-year purchase plan worth CNY400 billion (USD57.3 billion).
Suning inked procurement deals with famous brands including Panasonic, Danone and Nestle and penned agreements with overseas institutions such as the Italian Trade Agency to introduce their overseas products and services in batches.
"Only by building an open economy can we adapt to growing domestic consumption, better meet people's needs for a good life, continue to exploit market potential, boost high-quality development and promote cooperation between China and the global economy," said Wang Zhe, head of Suning's purchasing group.
China's cross-border online shopping is one of the fastest-growing areas in e-commerce. Last year, over 90 million such shoppers made transactions worth CNY1.9 trillion (USD271.7 billion), according to the 2019 Suning.Com Import Commodity Consumption Report.