ICBC’s cross-border e-commerce platforms including the Spanish shopping mall of “ICBC E-buy” e-commerce platform, a dedicated platform providing high-quality overseas products, have recently been launched for pilot operation. Such cross-border e-commerce platform not only provides more products for customers of “ICBC E-buy”, but also marks the Bank’s official entry into emerging cross-border e-commerce.

According to an ICBC official, since the second half of 2014, the Bank has been planning to enter cross-border e-commerce and has completed the connection between the “ICBC E-buy” with China (Hangzhou) Cross-border E-commerce Comprehensive Pilot Zone. The Bank has built an e-commerce service and operational system integrating three functions including order information, logistics information and payment information, which realized automatic information sending and processing among “ICBC E-buy” platform, bonded warehouse and electronic port.

ICBC's overseas network has been extended to 42 countries and territories over the world, providing “ICBC E-buy” with unique advantages in conducting cross-border e-commerce business. For example, the Spanish shopping mall recently launched for pilot operation, directly targets at local customers of ICBC Madrid Branch. The Branch conducts strict review on the qualification of customers and the products to be put into the market to ensure all products for sale are genuine with high quality and to promote popular brands in the Spanish market. The merchants deliver products directly from Spain to Hangzhou bonded area. The products, after stored in the bonded warehouses, will be directly picked up from the warehouse and delivered to the buyers. The whole international logistic process is free from external interventions, which avoids the risk of replacing products and counterfeits. Over 200 categories of local products have entered the Spanish shopping mall of “ICBC E-buy” platform, including maternal and infant products, skincare products, grain and oil, and food .In the second half of this year, the Spanish shopping mall will increase more bestsellers and premium brands. In addition, some other overseas shopping malls will be launched, which will better benefit and facilitate domestic consumers.