BEST's new logistics service targets non-resident Chinese in SE Asia

With this service, customers in Thailand, Vietnam, Singapore, Malaysia and Cambodia are now able to place multiple orders on different shopping websites or stores in China, with freight for only one consolidated parcel. The price starts from 7 yuan ($1.1) per kilogram.

As the expected implementation of the Regional Comprehensive Economic Partnership agreement next year will widen trade flows and consolidate the supply chain network in the Asia-Pacific region, exploring business in economies of the Association of Southeast Asian Nations is in line with the trend that trade between China and the regional bloc has continued to surge after the outbreak of the COVID-19 pandemic, BEST chairman and chief executive officer Johnny Chou was quoted as saying by an official Chinese newspaper.

Supported by 7,000 employees, BEST's global business continued its growth momentum with parcel volume in Southeast Asia increasing by 140.7 per cent year on year in the second quarter, bucking the resurgence of the COVID-19 pandemic in the region, said its fiscal report released in August.

"Given the supportive industry regulatory environment and continued strong e-commerce growth, we are optimistic that our strategic refocusing plan will position us to deliver improved operating and financial results in the coming quarters," Chou said.

ASEAN continued to be China's largest trading partner in the first three quarters, with bilateral trade reaching 4.08 trillion yuan, up 21.1 percent year-on-year, accounting for 14.4 per cent of China's total foreign trade, China's General Administration of Customs said.

Apart from building more overseas warehouses in signatory states of the RCEP pact in the coming years, Chou said the New York Stock Exchange-listed company has built overseas warehouses in Southeast Asian markets, as well as export trans-shipment warehouses in China.

Fibre2Fashion News Desk (DS)