Xiamen's first cross-border e-commerce "bonded stocking + express delivery" project was officially launched.
In the past, it would take anywhere from three to five days to several months for overseas purchased goods to reach customers. Now, on the International Wine Exchange Platform in the Xiamen Free Trade Zone, they can independently browse and select cross-border e-commerce products, and place orders through the platform.
Goods are then shipped directly from the bonded warehouse in the Xiangyu Comprehensive Bonded Zone. The products can be delivered in as fast as half an hour.
That's all thanks to an innovative business model jointly developed by the Xiamen FTZ Administrative Committee and Xiamen Customs. It represents a new cross-border e-commerce retail model that combines bonded import for online shopping with bonded exhibition trading.
Online shopping for bonded imports refers to the import method under the cross-border trade e-commerce scheme. Compared with regular imported goods, cross-border e-commerce imported products are subject to zero tariffs, with a value-added tax and consumption tax levied at 70 percent. Each individual can enjoy an annual consumption limit of up to 26,000 yuan ($3,570) under the scheme.
This "offline display + online transaction + rapid delivery" new retail model will provide consumers with a more convenient and efficient "global shopping" experience.