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Invest Shanghai
The 2024 Shanghai Silk Road E-commerce Carnival kicked off on Tuesday at Hongqiao Tiandi, or The Hub, and will run through May 17.
One of the key activities of Shanghai's 5th Double Five Shopping Festival, the carnival has attracted the participation of e-commerce platforms, import and export enterprises, livestreaming companies, shopping centers, and trade promotion organizations from Belt and Road initiative participating countries. Over 50 online and offline consumer promotion activities were introduced during the launch ceremony.
"I would like to thank this carnival for providing a platform for Pakistan and other countries to showcase their unique commodities and vibrant trade cultures," said Muhammad Atif, deputy consul general of the Consulate General of the Islamic Republic of Pakistan in Shanghai.
"I hope this event will bring more development opportunities for China and other countries."
There will also be themed activities including livestreams to showcase commodities from various countries and regions such as Chile, Pakistan, Uzbekistan, Italy, and Africa.
Consumers can not only buy commodities through e-commerce platforms or live broadcasting but also visit offline bazaars.
Specialty bazaars will be held at 558 Nanjing Road E. in Huangpu District, The Hub in Minhang District, and other districts, bringing together thousands of commodities from Silk Road partner countries.
The carnival will offer food and drink at discounted prices at special events, such as the South American Coffee Festival, the Australia and New Zealand Wine Festival, and the Southeast Asian Fruit Festival.
At the launch ceremony, Greenland Global Commodity Trade Hub signed a strategic cooperation contract with Alibaba (Shanghai) Co Ltd and representatives of different countries to jointly promote business and trade cooperation with partner countries.
Hongqiao Pinhui, or Hongqiao Import Commodities Expo and Trade Center, will also serve as a base for future foreign aid training programs, cooperating with Shanghai Business School and the Shanghai Asia-Pacific Economic and Information Technology Talent Training Center, to cultivate more Silk Road business talents.
In addition, the Xinjiang Kashgar Commerce Bureau and the Shanghai Silk Road Yunpin Alliance signed an agreement to deepen the cooperation between Shanghai and Kashgar, including the establishment of the Shanghai-Kashgar E-commerce Cooperation Alliance and the construction of a livestreaming commerce base.
Kashgar's trade with Central Asia accounts for more than 80 percent of the region's trade, while Shanghai's trade with Central Asia currently accounts for only 0.25 percent of the city's, indicating huge potential for cooperation between Shanghai, Kashgar, and Central Asia.
Since the state approval of the creation of the "Silk Road E-commerce" cooperation pilot zone in Shanghai in October 2023, remarkable results have been achieved.
At present, there are ten 100-billion-yuan e-commerce platforms in Shanghai. In the first quarter of this year, the city realized an e-commerce turnover of 897.89 billion yuan (US$124.4 billion), an increase of 12.7 percent year on year.