1.China Southern Air Logistics Aims to Raise Over 6 Billion Yuan in IPO

On December 4, China Southern Air Logistics updated its financial data for its main board IPO. The company plans to raise approximately 6.08 billion yuan, with the funds earmarked for the purchase of freighters and digitalization projects. China Southern Air Logistics' primary businesses include express air transport, comprehensive ground services, and integrated supply chain solutions. The IPO application was accepted on December 31, 2023, and entered the inquiry stage on January 29, 2024.

Source: Shanghai Stock Exchange

2.SHEIN Tops Spain’s Best New E-commerce Platform Ranking

On December 4, according to a study by Marketplaces Hoy, SHEIN outperformed global platforms such as Leroy Merlin and MediaMarkt to be named Spain’s best new platform and was listed as a top recommended channel for 2024. SHEIN already leads Spain's fashion market. According to ECDB’s report, in 2023, SHEIN held an 11% market share, surpassing local European brands like ZARA (6%) and H&M (3%). Additionally, a Kantar report ranked SHEIN second, close behind Amazon, in terms of the number of Spanish fashion buyers.

Source: Marketplaces Hoy

3.Temu Actively Recruiting Local UK Sellers

On December 4, Temu announced it is actively recruiting new UK-based sellers to accelerate its expansion in the UK market. Under its new "localization" plan, consumers will be able to purchase goods from local sellers, enjoying faster delivery times, with products expected to reach buyers within one to two days. This move will increase pressure on Temu’s high street competitors and further boost its competitiveness in the UK e-commerce market.

Source: Ebrun

4. China’s Air Cargo Volume Hits Record High This Year

On December 4, Shang Kejia, Deputy Director of the Transport Department of the Civil Aviation Administration of China, stated in a press conference that China’s air cargo industry has seen robust growth in 2023. Total cargo and mail volume reached 7.298 million tons from January to October, up 19.3% compared to the same period in 2019. Of this, domestic routes accounted for 4.366 million tons, while international routes handled 2.932 million tons.

Source: CCTV News

5.Hua Hu International Airport’s Northern Cargo Station Surpasses 50,000 Tons

On December 4, Liu Chenlu, head of cargo station management at Ezhou Airport Freight Co., Ltd., announced that the northern cargo area of Hua Hu International Airport has handled over 50,000 tons of cargo since its opening on June 18, with a daily average of 470 tons and peak levels exceeding 760 tons. The airport’s second international cargo terminal, set to increase capacity by 80,000 tons annually, is under construction.

Source: Ezhou Media

6.Hong Kong-Budapest International Cargo Route Launches

On December 4, a B767-300 freighter departed from Hong Kong International Airport, heading to Budapest, marking the launch of a new regular cargo route between Hong Kong and Hungary’s capital. The freighter, operated by Georgian airline Camair, carried 52 tons of cargo, mainly cross-border e-commerce goods, high-end components, and precision instruments. The route will offer three weekly flights, providing over 300 tons of air cargo capacity.

Source: Huixin Aviation Services

7.Mexico to Impose 16% VAT on Foreign E-commerce Platforms

On December 4, Mexico’s National Tax Administration announced that starting January 1, 2025, all foreign companies selling products via e-commerce platforms (such as Amazon, SHEIN, and Temu) will be subject to a 16% value-added tax (VAT). This measure is expected to generate 15 billion pesos in tax revenue.

Source: Mexican National Tax Administration

8.TikTok Shop’s 2024 GMV Projected to Surpass $50 Billion

On December 4, it was revealed that TikTok Shop, since its market debut in September 2023, has attracted many Amazon sellers and brands, positioning itself as a key competitor to Amazon. The platform’s GMV (gross merchandise volume) is projected to reach $50 billion in 2024, although still significantly below Amazon’s $757 billion.

Source: Chuhaiwang

9.Shopee to Introduce Three Major Changes for Sellers in January

On December 4, Shopee Philippines announced that starting January 1, 2025, it will introduce new policies to support platform growth. These include adjusting the platform's shipping fee rate to 4.48% for all sellers using Shopee-supported logistics, launching site-wide free shipping vouchers, and updating commission rates for certain categories on Shopee Mall.

Source: Shopee

10.Flipkart Expands 10-Minute Delivery Service

On December 4, Flipkart announced it would extend its "Flipkart Minutes" 10-minute delivery service to more cities. This service is already available in Bangalore, Mumbai, and Delhi and caters to increasing consumer demand for ultra-fast deliveries.

Source: Flipkart

11.Cross-border E-commerce Exports Reach 200 Billion Yuan in 2024

On December 4, it was reported that the value of cross-border e-commerce exports under the supervision of Huangpu Customs surpassed 200 billion yuan for the first time in 2024, representing a year-on-year growth of 1.3 times.

Source: Huangpu Customs

12.COSCO Shipping Opens New Africa Route

On December 4, COSCO Shipping announced the launch of a new direct express route connecting Asia with East and South Africa. The new weekly service links Chinese ports such as Qingdao, Zhangjiagang, and Lianyungang with major African ports like Dar es Salaam, Mombasa, and Durban.

Source: China Shipping Weekly

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