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Wenzhouese Businessmen Test the Water of “Overseas Warehouses”
【Fonts: Large Medium Small 【Source: Wenzhou·China 【Date: 2020.05.16】

In order to cultivate new competitive advantages in foreign trade in the face of COVID-19 epidemic, many enterprises in Wenzhou begin to build or rent overseas warehouses and map out overseas logistics systems to quickly occupy the overseas consumer market. For instance, given the less serious epidemic situation in Africa, many enterprises in Cangnan County take the South Africa overseas warehouse - “China Africa Bridge” - as an impetus to create the Cangnan brand exhibition and marketing center in South Africa and actively explored the African market; by renting overseas warehouses in the United States, Wenzhou Dongqi Auto Parts Manufacture Co. Ltd. plans to carry out e-commerce abroad to realize diversified trade modes and expand market share; and Wenzhou Jinyuan New Material Technology Co. Ltd. is preparing to set up a warehouse in the U.S. because once it builds the warehouse overseas, its order lead time is expected to be shortened from one and a half months to 7-10 days, and its cost will be greatly reduced.

Compared with the traditional foreign trade, overseas warehouses are a new trade mode that allows export enterprises to send goods in bulk to foreign warehouses, thus expanding product categories, saving costs and reducing intermediate links. Such a mode of overseas warehouses realizes local sales and local distribution, greatly improving the competitiveness of cross-border e-commerce enterprises. Therefore, overseas warehouses will become an important platform and vehicle for the development of cross-border e-commerce. At present, overseas warehouses built and operated by enterprises in Wenzhou are distributed in 12 countries, such as Serbia, the United Kingdom, the U.S. and Germany. Last year, the total turnover of overseas warehouses reached $160 million, with the trading products covering bags, shoes and clothing, glasses, sporting goods, sanitary wares, auto parts, etc. China-India OTO wholesale mall overall e-commerce warehousing project of Wenzhou JBON International Trade Co. Ltd., since the enterprise was provincially approved as the first one in Wenzhou to set up a public overseas warehouse in New Delhi in India, has served nearly 50 domestic enterprises, and revealed to more Wenzhouese companies the potential business opportunities of building overseas warehouses.

It is known that, when constructing overseas warehouses, Wenzhou City has the advantages of rich resources of Wenzhouese businessmen and overseas Chinese, diverse fashionable light industrial products, and sound basic conditions of foreign trade network. To make “overseas warehouses” a new post station for products “made in Wenzhou” and a new driving force for industrial transformation and upgrading, it is necessary, as suggested by many insiders, to determine the construction standards of overseas warehouses as soon as possible, issue support policies for overseas warehouses, explore cooperation modes of overseas warehouses, manage well the operation of overseas warehouse products and build a logistics system for overseas warehouses.

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