Foreign companies are optimistic about China's cross-border e-commerce, which will help their overseas development achieve steady growth

During the China E-commerce Conference 2020, keywords such as "digital", "going out to sea" and "service" were highly "seen". Some participating e-commerce enterprises said that due to the impact of this year's COVID-19 epidemic, they would actively "embrace" cross-border e-commerce as one of the important measures for enterprises to explore new markets.

China's cross-border e-commerce imports and exports grew 26.2 percent year on year in the first half of this year, according to data released by the General Administration of Customs. Many industry insiders said that the competition of e-commerce in China has become a "red sea", and the overseas market may become the "blue sea" of China's e-commerce.

Naama Ofek-Arad, chief operating officer of Riskified, an Israeli online anti-fraud platform, said Riskified is very optimistic about the e-commerce industry in China. Since the COVID-19 outbreak, a series of effective measures have been taken in China, and the social and economic recovery has been stable, which has strengthened Riskified's confidence in taking root in China. The establishment of the Shanghai office will focus on the overseas development process of Chinese e-commerce enterprises and provide them with full service chain technical support.

It is understood that the process of Chinese e-commerce going overseas will involve payment, tax, logistics and other links. Due to the differences in laws, technologies and payment methods, the speed and process of Chinese enterprises' overseas market expansion may be prolonged. In addition, due to the different payment methods, enterprises will also suffer different levels of losses once they encounter payment fraud.

"Payment fraud caused by credit card theft occurs frequently on cross-border e-commerce platforms, which is an urgent problem for e-commerce enterprises to solve." Naama said Riskified's main business in China is to provide anti-fraud services and risk control evaluation systems for offshore and cross-border e-commerce. Among them, the solution of "repudiation guarantee" also eliminates the worry for The overseas development of Chinese e-commerce enterprises.

In recent years, The scale and quality of E-commerce in China have been constantly improved, and the leading role has become increasingly prominent. Especially in the fight against COVID-19 this year, e-commerce has played an important role in driving consumer recovery and unblocking foreign trade industrial and supply chains.

Naama said the products and services provided by China are increasingly recognized by consumers around the world. Riskified is confident about the prospects of Chinese e-commerce in the global market, as the COVID-19 outbreak has hit the world economy hard and China's e-commerce continues to grow rapidly. Riskified also hopes to use its advantages in risk control testing, online anti-fraud and other areas to help Chinese e-commerce companies go further overseas.