South China's Guangdong to build 500 overseas warehouses by 2025

The provincial government of south China's Guangdong Province, the country's major foreign trade hub, issued a document on Thursday to promote the quality development of cross-border e-commerce, with overseas warehouses to number 500 by 2025.

The province would cultivate leading enterprises in the sector and strive for 20 cross-border e-commerce companies with an annual transaction volume of over 5 billion yuan (785 million U.S. dollars), and 10 others over 10 billion yuan, said the document.

Guangdong would also promote the construction of cross-border e-commerce industrial parks and aims to double its import and export volume in cross-border e-commerce by 2025, it said.

According to the document, a total of 100 cross-border e-commerce sellers with an annual turnover of over 100 million yuan as well as 100 cross-border e-commerce brands with annual sales of over 100 million yuan would be expected in the province by 2025.

By 2025, Guangdong plans to build 500 overseas warehouses with a total area of more than 4 million square meters. A professional and intelligent overseas warehouse network would gradually come into shape.