Cross-border e-commerce in Central and Eastern Europe unleashes huge development potential and promo



Cross-border e-commerce in Central and Eastern Europe unleashes huge development potential and promotes the rapid development of China-Hungary economic and trade cooperation

Cross-border e-commerce in Central and Eastern Europe unleashes huge development potential and promotes the rapid development of China-Hungary economic and trade cooperation. Published by People's Daily Online
Cross-border e-commerce in Central and Eastern Europe unleashes huge development potential and promo(图1)


Original title: What is the "dual-region linkage" mechanism for China-Hungary cross-border e-commerce?

The Sino-European Trade and Logistics Cooperation Park in Hungary and the Jinyi Area of Zhejiang Free Trade Zone signed a "dual-area linkage" cooperation memorandum on May 26. This is the first "dual-area linkage" cooperation memorandum signed between a city in the Yangtze River Delta and Hungary. Promote cross-border e-commerce trade between the Yangtze River Delta and Central and Eastern European countries to build a new bridge.

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Since the outbreak of the epidemic last year, cross-border e-commerce in Central and Eastern Europe has released huge development potential. New business formats and new models have continuously emerged and become new economic growth points. "Cross-border e-commerce + China-Europe freight train + overseas warehouse" has become China under the new situation. The new model of economic and trade cooperation with Central and Eastern Europe, the "dual-region linkage" mechanism of China-Hungary cross-border e-commerce came into being under such a background.


The China-Hungary "dual zone linkage" mechanism is based on Hungary's Sino-European trade and logistics cooperation park, docking with the domestic cross-border e-commerce comprehensive pilot zone. The two parks will work together to help open up all links of the cross-border e-commerce import and export chain, and promote China-Europe The high-quality development of trains and overseas warehouses will achieve cross-regional, cross-pilot platform resource integration and complementary functional advantages of the two types of parks, strive to achieve the effect of "1+1>2", and deepen the economic and trade cooperation between China and Central and Eastern European countries.
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In order to promote the implementation of the China-Hungary "dual-region linkage" mechanism, the Chinese Embassy in Hungary selected representative cities in the east, middle and west of the country for docking layout. It has now been linked to the Linyi Cross-border E-commerce Comprehensive Pilot Zone in Shandong and Ganzhou Cross-border in Jiangxi. The E-commerce Comprehensive Pilot Zone has established a "dual-zone linkage" mechanism. In the first quarter of this year, the Linyi-Budapest China-Europe Railway Express and Ganzhou-Budapest China-Europe Railway Express cross-border e-commerce special trains were opened. The Hungary-China Business Logistics Cooperation Park is a comprehensive test area. The companies have tailored their cooperation plans and helped them enter the largest e-commerce platforms in Hungary and Central and Eastern Europe. In the first quarter of this year, with the help of the "dual-region linkage" mechanism, Linyi and Ganzhou achieved new exports to Hungary by more than US$10 million and US$70 million, respectively, setting record highs.

Liu Bo, Minister of Economic and Commercial Counselor of the Chinese Embassy in Hungary, said: "The'dual zone linkage' mechanism has been effective since it was launched last year. From January to May this year alone, the'dual zone linkage' mechanism has driven China's exports to Hungary by more than 107 million. U.S. dollars. The'dual-zone linkage' can save more than 50% of freight time for cross-border e-commerce companies, about 33% of logistics costs and more than 10% of warehousing costs, which are welcomed by domestic manufacturers, and it has also driven a number of domestic companies. Enterprises have increased their investment and deployment in the logistics industry in Central and Eastern Europe."
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The "dual zone linkage" mechanism has promoted the rapid development of China-Hungary economic and trade cooperation. In 2020, China-Hungary economic and trade cooperation will rise against the trend and achieve brilliant results. For the first time, China became Hungary's largest source of foreign investment, and bilateral trade volume bucked the trend and increased by 14.4% year-on-year, setting a record high. In the first quarter of 2021, China-Hungary import and export trade volume was 3.73 billion U.S. dollars, a year-on-year increase of 64.7%.

The China-Hungary cross-border e-commerce "dual-region linkage" mechanism has also effectively promoted the high-quality development of China-Europe freight trains and overseas warehouses, promoted the connectivity of China-Hungary facilities and smooth trade, and has received active support from all walks of life in Hungary. Hungarian Minister of Innovation and Technology Balkovic stated that the “dual-region linkage” mechanism of China-Hungary cross-border e-commerce is a new channel, new field and new channel for the two countries to strengthen the connectivity of railway facilities and deepen practical economic and trade cooperation under the framework of the “Belt and Road” cooperation. The new attempt will promote the comprehensive cooperation between the two countries in the field of cross-border e-commerce, and further promote the close cooperation between the two countries in the fields of commerce, logistics, and technology. Hungary highly supports it and looks forward to opening more China-Europe trains under this mechanism. .
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