1. A Shenzhen Cross-Border Logistics Company to List in the U.S.

On November 8, news broke that Transten Global Group Limited, a Shenzhen-based cross-border logistics company, has officially filed its IPO prospectus with the U.S. Securities and Exchange Commission (SEC), aiming to go public on the NASDAQ. According to the prospectus, Transten Global plans to raise up to $10 million through the IPO. While the amount is relatively modest compared to larger IPOs, it marks a significant milestone for the company. The raised funds will primarily be used for business expansion, technology development, and marketing, helping the company stay competitive in the fast-evolving market.

Source: Kuatuoshe

2. Lufthansa Cargo Renews Partnership with Chinese Logistics Companies

On November 8, it was announced that Lufthansa Cargo has renewed its partnership agreements with Shanghai Airport Group, China Cargo Airlines, and China Postal Express & Logistics. This renewed collaboration reflects Lufthansa’s increased focus on the Chinese market, driven by the booming e-commerce sector and the growing importance of cross-border trade in China. These partnerships are expected to offer additional growth opportunities for the air cargo industry.

Source: Cross-border E-commerce Logistics OmniSage

3. Global Top 20 Cargo Airports Ranking Released

On November 8, the Airports Council International (ACI) released its latest ranking of the top 20 cargo airports worldwide, based on air cargo volume. China boasts five airports in the top 20, accounting for a quarter of the list. The top 20 cargo airports are: Hong Kong (China), Memphis (USA), Shanghai Pudong (China), Anchorage (USA), Incheon (South Korea), Louisville (USA), Miami (USA), Doha (Qatar), Los Angeles (USA), Taipei (China), Guangzhou Baiyun (China), Tokyo (Japan), Chicago (USA), Cincinnati/Northern Kentucky (USA), Paris (France), Frankfurt (Germany), Dubai (UAE), Singapore (Singapore), Istanbul (Turkey), and Shenzhen Bao'an (China).

Source: ACI

4. Cross-Border E-Commerce Export to Receive Policy Boost

On November 8, China's General Administration of Customs announced a series of measures to optimize the supervision of cross-border e-commerce exports and promote high-quality development in the sector. The measures include eliminating the requirement for overseas warehouse companies to register, simplifying export documentation procedures, expanding the "inspection before loading" pilot for consolidated export shipments, and promoting the cross-border e-commerce retail export return supervision model across customs regions.

Source: General Administration of Customs

5. TikTok Ordered to Shut Down Operations in Canada

On November 8, the Canadian government ordered ByteDance-owned TikTok to shut down its operations in the country, citing national security risks. However, the order does not prevent Canadians from using the app or creating content. Last year, Canada began reviewing TikTok’s investment and expansion plans under its foreign investment laws, which allow the government to assess national security risks. TikTok plans to contest the order in court. The Canadian government has already banned the use of TikTok on government devices, citing unacceptable privacy and security risks.

Source: Canadian Government

6. Alibaba International Station Launches New Category for Service Trade

On November 8, Alibaba International Station announced the launch of a dedicated category for service trade enterprises, allowing businesses in logistics, testing and certification, design services, and IT outsourcing to enter the platform. Wu Lingli, Head of Service Trade at Alibaba International Station, stated, “Alibaba is enhancing its capabilities to support service trade enterprises on its cross-border e-commerce platform, providing SMEs in this field with greater market opportunities.”

Source: Alibaba International Station

7.OZON FBS Shipping Fees No Longer Dependent on Parcel Quantity

On November 8, OZON announced changes to its Fulfillment by Seller (FBS) shipping policies. Sellers will now receive discounts on sales tariffs for shipments sent before the recommended time and will face extra charges for late shipments. Additionally, the processing fees for items will no longer depend on the number of parcels. Adjusting to the recommended times will help reduce congestion at pickup points, eliminating the need to raise shipping fees. Pickup point processing will cost 30 ₽, store-to-store delivery will be 20 ₽, and warehouse self-service will cost 10 ₽. At malls, the cost will be 5 ₽.

Source: OZON

8. Mercado Libre Q3 2024 Revenue Hits $5.3 Billion

On November 8, Latin American e-commerce giant Mercado Libre reported its third-quarter financial results for 2024. The company posted a revenue of $5.3 billion, marking a 35% year-on-year increase. Gross merchandise volume (GMV) reached $12.9 billion, up 14% year-on-year, while total payment volume (TPV) hit $50.7 billion, up 34%. Operating income came in at $560 million, down 9.5%, with an operating margin of 10.5%. Net profit was $390 million, with a net profit margin of 7.5%.

Source: Mercado Libre

9. Latest Southeast Asia E-Commerce Market Forecast

On November 8, a joint report from Google, Temasek, and Bain & Company forecasted that Southeast Asia's digital economy will reach a gross merchandise value (GMV) of $263 billion in 2024, a 15% increase from last year. Indonesia’s e-commerce sector is expected to hit $65 billion in 2024, growing to $150 billion by 2030. Thailand is projected to reach $26 billion in 2024, rising to $60 billion by 2030. Vietnam’s 2024 GMV is estimated at $22 billion, increasing to $63 billion by 2030. The Philippines and Malaysia are both expected to reach $22 billion and $16 billion respectively by 2024, with Singapore projected at $9 billion.

Source: Google, Temasek, Bain & Company

10.China’s Trade Volume Hits ¥36.02 Trillion in First 10 Months of 2024

On November 8, China’s General Administration of Customs announced that the country’s total foreign trade volume reached ¥36.02 trillion in the first 10 months of 2024, up 5.2% year-on-year. Exports amounted to ¥20.8 trillion, growing by 6.7%, while imports reached ¥15.22 trillion, up 3.2%.

Source: CCTV News

11.First "Truck-to-Air" Cross-Border E-Commerce Cargo Successfully Transported in Taiyuan

On November 8, China Eastern Airlines successfully implemented the first “Beijing-Taiyuan-Bangkok” truck-to-air cross-border e-commerce cargo transportation project in Taiyuan. A total of 100 packages weighing 1.55 tons were trucked from Beijing to Taiyuan, then flown aboard Eastern Airlines flight MU5067 to Bangkok's Suvarnabhumi International Airport, achieving seamless land-to-air transportation.

Source: Taiyuan Daily

12. Shenzhen to Build Over 1,200 Low-Altitude Takeoff and Landing Points by 2026

On November 8, Shenzhen announced plans to build more than 1,200 low-altitude takeoff and landing points by 2026, covering passenger transportation, logistics, community delivery, and medical services. Currently, Shenzhen has 249 such facilities, leading the nation. Nanshan District has built 32 points covering passenger and logistics services, while Bao’an District has built 35 points and opened 132 drone routes.

Source: Shenzhen Release

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Cross-border E-commerce Logistics Baixiaosheng