The theme of this year's G20 is "Toward an Innovative, Invigorated, Interconnected and Inclusive World Economy." Chinese entrepreneurs have been markedly innovative and Chinese society as a whole has adopted technology on an unprecedented scale to overcome developmental obstacles and thrive. This has allowed China to bypass levels of development seen in the west and advance to a much more sophisticated stage, for example, skipping the mature retail phase of consumption and instead embracing highly developed e-commerce infrastructure. China has successfully transformed a developing country into the second largest economy on the planet and hopes to share their solutions and experience with the world.
During the meeting, the leaders agreed that the best way to promote inclusive economic growth is to further promote innovation, not only in the tech industry but to reform the structure of the traditional supply chain.
Leaders also reached a consensus to promote capacity-building programs such as the APEC CBET (cross-border e-commerce training) program, which was introduced to the B20 platform in 2015 and recognized by the B20 policy paper which will be submitted to G20 leaders as a case study of best practices for educating global SMEs (small-and-medium sized enterprises) on a large scale regarding how to leverage technology to upgrade their businesses. The APEC CBET program was started and facilitated by leading Chinese B2B cross-border e-commerce firm DHgate.com.
"Witnessing Chinese enterprise owners submit their innovations to G20 leaders shows that China is playing a very important role in formulating global standards. The 2 main initiatives of the G20 SME Development Task Force are to help SMEs to enter the global market through cross-border e-commerce, and to encourage SMEs to utilize innovative financing mechanisms to scale up their businesses. The power of digitalization and the internet is boundless, easy access to trade and finance provide great opportunities for global SMEs to flourish, and for developing countries to improve their economies."
-Diane Wang, DHgate founder and CEO, and B20 SME Development Task Force Co-chair
DHgate.com is the first to market and the biggest transactional cross-border B2B e-commerce marketplace in China, aiming to provide global buyers with quality products at competitive prices. Founded in 2004, DHgate.com has approximately 12 million global buyers from 230 countries and regions, with 1.4 million global sellers offering 40 million products. DHgate.com's business enables buyers to directly access global manufacturers of the world's top brands with rich product selections. DHgate.com is an all-in-one platform with integrated services for international logistics, cross-border payments, internet financing, etc. DHgate.com's US, UK, Spain, and UAE product distribution warehouses allow for 24 hour delivery and convenient product returns & refunds, bringing great convenience to buyers at http://www.dhgate.com.
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