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【CIIE】Deloitte shares innovative development of e-commerce at Hongqiao International Economic Forum

The 2nd Hongqiao International Economic Forum was held at the National Exhibition and Convention Center (Shanghai) on 5 November. This forum included parallel sessions on “Opening-up, Regulation and the Business Environment”, “Artificial Intelligence and Innovative Development”, “WTO Reform and Free Trade Agreements”, “E-commerce in the Digital Era”, and “China's 70-Year Development and the Building of a Community with a Shared Future for Mankind”. The Forum is a high-profile dialogue platform for the global political, business and academic communities to put forward suggestions on improving and transforming the economic governance system and facilitating healthy world economic development.

Deloitte Global Chief Strategy Officer John Meacock attended the most future-centric parallel session, "E-commerce in the Digital Era", communicating with executives from global business giants including Alibaba CEO Daniel Zhang and Bank of China Chairman Liu Liange.

John noted China is further opening up its consumer market to the outside world, and that consumption upgrading centered on personalization, diversification and quality continues to capture the imaginations of Chinese consumers. The trend of inclusive growth in consumption of imported products is increasingly clear. Cross-border e-commerce, a new model for imported goods consumption, continues to unleash consumer demand.

John pointed out that digitalization is completely restructuring the entire retail imports sector across personnel, goods and storefronts. Adopting an asset-light strategy and digitalization are essential for e-commerce platforms to address their brand, compliance and operational challenges. Cross-border e-commerce platforms can leverage technology-enabled management tools based on big data, cloud computing, AI and other technologies to focus on their core businesses and build markets to facilitate faster business growth. A new model combining social networks and e-commerce is also set to provide huge stimulus for incremental consumption and drive overall consumption to a higher level.   

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