BANGKOK, Feb. 23, 2017 /PRNewswire/ -- Feb. 21, 2017, at the APEC Business Advisory Council meetings in Bangkok, Thailand, Chinese ABAC representative and founder and CEO of DHgate, Diane Wang, announced the initiative of building the Global Digital Trade Index. The index will be built upon research and analysis of the development of ecommerce and digital trade by economy. The index aims to reveal developmental trends in global digital trade and promote healthy and efficient development in digital trade globally.
Shaping Policy Initiatives
The index will closely analyze the decisive factors influencing the development of digital trade, as well as the impact that digital trade has on the regional global economy. The index will provide insights to shape top initiatives and guidance regarding policy and actions for different governments to better leverage digital platforms to promote the increase of local trade.
The index will be presented to APEC leaders at APEC Vietnam at the end of 2017.
Digital Globalization is Taking Over
Digital trade is taking over, according to McKinsey:
- Approximately 12 percent of the global goods trade is conducted via international e-commerce
- 50 percent of the worlds traded services are already digitalized
DHgate, the leading B2B cross-border online trading platform will contribute the big data they have accumulated over the past 12 years from over 10 million buyers from 230 countries and regions to the project. International institutions the WTO, ITC, World SME Forum and the Chinese International Chamber of Commerce, will analyze the data by each section of digital trade, including:
- The scale of trade,
- The growth rate of trade,
- The penetration rate of internet,
- Supply chain services,
- The development of digital platforms,
- Levels of capacity building, and more.
The organizations will then provide constructive policy recommendations for all major economies to better develop their local, regional, and global economies through digital trade.
Advantage for Developing Countries and SMEs
Over the past decades, international trade has been controlled by developed countries and large scale enterprises. However, the rapid development of cross-border e-commerce has onset disruptive breakthroughs that have resulted in an upgrade of the entire supply chain, which has opened up the opportunity of international trade to developing countries and small businesses.
The main features of digital trade are: openness, sharing resources, and a transparent and tolerant environment. These features enable more SMEs and online merchants to participate in global value chains through digital platforms and enjoy the convenience of business opportunities brought by globalization.
Digital trade creates a favorable situation for developing countries because it enables them to realize sustainable and rapid development in their local economies by upgrading their supply chain, restructuring their industrial structure, and promoting entrepreneurship and innovation.
The theme of the Digital Trade Index echoes the core theme of APEC which is the integration of economy in the APEC region and will empower SMEs to make buying and selling globally a reality.
DHgate.com is the first to market and the biggest B2B transactional cross-border e-commerce marketplace in China, aiming to provide global buyers with quality products at competitive prices. Founded in 2004, DHgate.com has approximately 10 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