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China's cross-border e-commerce booms

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BEIJING, June 17 (Xinhua) -- The trade volume of China's cross-border e-commerce has reached 3.32 billion U.S. dollars since China piloted cross-border foreign exchange payments in 2013, the State Administration of Foreign Exchange (SAFE) said on Wednesday.

China's cross-border e-commerce continues to boom, with its volume in the first five months of 2015 nearing the volume of the whole 2014, said SAFE senior official Du Peng at a press conference.

He attributed the transaction growth to government measures to encourage e-commerce, including lifting the country's overseas online single transaction limit from 10,000 U.S. dollars to 50,000 dollars in January.

China piloted cross-border foreign exchange payment institutions in Shanghai, Beijing, Chongqing, Zhejiang and Shenzhen in 2013 to serve growing demand for overseas online shopping.

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