PRC e-com market a great opportunity for US firms: experts

30 May '19

1 min read

China's fast growing e-commerce market offers great opportunities for US firms, according to experts who attended the Fifth China-US Governors Forum in Kentucky recently. They urged both sides to enhance cooperation in this area. Alan Turley, a top US commerce ministry official, said China is a market of tremendous volume, innovation and dynamism.

"There are tremendous opportunities for US companies to access Chinese consumers through cross-border e-commerce," a news agency report quoted Turley, deputy assistant secretary for China and Mongolia in the US commerce department, as saying.

The USA chairman of China General Chamber of Commerce Xu Chen said China's online consumer market is ‘expanding rapidly’, which means great potential for US companies in the coming years.

"Many US products, especially those from small and medium-sized enterprises, are products that Chinese consumers want to buy," Xu, also the president and chief executive officer of Bank of China USA, told the news agency.

To facilitate cross-border e-commerce transactions, Xu said, Bank of China has developed an e-payment channel which connects Chinese and US e-commerce platforms and helps promote business exchanges. (DS)

Fibre2Fashion News Desk – India

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