From Yiwu to the Global Market: Leading the Future of Trade with Cross-border Electronic Commerce and Financial Science and Technology Innovation

Xinyi Xu(Shanghai Stariver School)

Abstract

This essay explores the transformative impact of cross-border e-commerce on international trade, with a focus on China's journey in embracing digital commerce. It highlights the role of Fintech in reshaping consumer behaviors, business strategies, and economic policies. The essay discusses China's resilience and adaptability in leveraging e-commerce during times of crisis, supported by favorable governmental policies and comprehensive pilot zones. It examines the interplay between technological advancements and market forces, particularly the proliferation of FinTech solutions, and their role in democratizing access to international markets for SMEs. The challenges of regulatory frameworks, taxation policies, logistics costs, security concerns, and financing are also addressed, emphasizing the need for collaborative solutions. Overall, the essay concludes that cross-border e-commerce represents a paradigm shift in global trade, providing increased accessibility, efficiency, and inclusivity, while giving insights from China's e-commerce development for other nations in navigating the digital economy's complexities.

Keywords

Fintech; Cross-border e-commerce; China

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DOI: http://dx.doi.org/10.26549/mmpp.v6i3.18379