Shanghai Free Trade Zone officially launched cross-border e-commerce platform kuajingtong.com on December 28, 2013.
It is the first cross-border e-commerce enterprises granted by Chinese government as the government supports cross-border shopping.
Many Chinese don’t hold high expectations of Kuajingtong.com, but still they expressed their attitudes by actions; a lot of consumers bought Frappuccino at the price 14.8 yuan (USD 2.42), some luxury products such as belt and wallet were quickly sold out. Consumers complained that their beloved products were all out of stock.
Kuajingtong found out Achilles’ heel of China e-commerce, cross-border e-commerce, a blind spot which was long occupied by a variety of private overseas purchase agencies. No customer service; no way to ensure products authenticity and long delivery time are tricky problems existed in overseas purchase business.
Kuajingtong aims at becoming the official and standard cross-border e-commerce platform. Kuajingtong, supported by Shanghai Customs, Shanghai Entry-Exit Inspection and Quarantine Bureau and State Administration of Foreign Exchange, has the advantage in product authentic guarantee, competitive pricing, transparent taxes, convenient logistics and customer service.
Kuajingtong overseas products only requires 50% custom duty, while normally other enterprises have to pay 150%.
Kuajingtong.com is an open cross-border e-commerce platform, the company contacted about 20 international B2C enterprises about “direct shipping to China”, and negotiation with online B2C platforms including Amazon and eBay. Kuajingtong plans to become the portal site of China cross-border e-commerce.
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