Eastern China’s financial hub Shanghai saw its cross-border e-commerce imports and exports increase by 84% to RMB 141.96 billion in the first half of this year, providing a rare bright spot amid the country’s weak economic performance. The local government last month issued guidelines to bolster the development of “high-quality” international online retailing, with officials offering further details on measures at a Thursday press conference, which included providing support on customs clearance, taxation, and foreign exchange facilitation policies while encouraging companies to build overseas warehouses. Shanghai is home to PDD, which launched cross-border service Temu in September last year. [Xinhua, in Chinese]
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