"Overseas warehouse" was a new phrase in the Government Work Report this year. It refers to warehouses established in foreign countries to facilitate cross-border e-commerce. Enterprises export products in bulk to the overseas warehouse and, after the goods are sold via online platforms, they can directly deliver products from the warehouse to foreign consumers.

Such overseas warehouses are an important link in the chain of cross-border e-commerce.

On March 17, a spokesperson for the Ministry of Commerce said at a news conference the ministry will take effective measures to support enterprises establishing warehouses in foreign countries, and build them into a new highlight of foreign trade development and a new engine of economic growth.

This move, which is intended to promote innovation in cross-border e-commerce, is an important deployment to achieve the goals of stabilizing growth and upgrading the foreign trade sector.

The MOC will further accelerate customs clearance, lower logistics cost, shorten the market links, improve distribution efficiency and help the enterprises integrate into the distribution systems of other economies.

Source: China daily.com