The strong will always be strong !
Walking down the street, strangers were talking about how to get rid of copycats. Around the dinner table, strangers were analyzing Amazon’s advertising strategy. In the subway, strangers are communicating about the delivery status. Next to the office happens to be a cross-border company that mainly operates the eBay platform. …
These coincidences that can be found everywhere seem impossible to achieve, but they are actually quite common in Shenzhen.
Customs statistics show that Shenzhen's imports and exports in 2024 reached 4.5 trillion yuan, breaking the 4 trillion yuan mark for the first time, returning to the mainland's "No. 1 foreign trade city" after 9 years, a year-on-year increase of 16.4%. Among them, exports reached 2.81 trillion yuan, an increase of 14.6%, achieving 32 consecutive championships.
Cross-border e-commerce, as a new engine for foreign trade development, has added a "strong stroke" to Shenzhen's impressive data. Official data show that in 2024, Shenzhen's cross-border e-commerce import and export volume reached 372 billion yuan, ranking first in the country for three consecutive years. Shenzhen's cross-border e-commerce comprehensive pilot zone has also been ranked first in the "significant results" for three consecutive years.
Global cross-border e-commerce looks to China, while Chinese cross-border e-commerce looks to Shenzhen. In the broader global market, the value of Shenzhen's cross-border e-commerce remains as stable as Mount Tai. Comparisons in various dimensions are highlighting Shenzhen's status as the "first city for cross-border e-commerce": the proportion of Chinese sellers on Amazon's platform has increased year by year, and many of these companies are located in Shenzhen, the electronics center. According to data from e-commerce research company Marketplace Pulse, in the UK, the top 10,000 in December 2024 Among the sellers, Chinese sellers account for 39%, much higher than the 20% eight years ago; there are 14 listed cross-border e-commerce companies in Shenzhen, 105 brand independent websites have been built across the city, and 45 Shenzhen brands have been shortlisted for the top 100 Chinese cross-border e-commerce brands; data from 2024 shows that Shenzhen has gathered the largest number of cross-border e-commerce entities in the country, with more than 80,000 cross-border e-commerce sellers in Shenzhen, accounting for about 50% of the country's sellers; in the top 20 list of popular cities for Amazon sellers worldwide , the number of Amazon sellers in Shenzhen exceeds 100,000 (102,588 sellers), far ahead of the second place Guangzhou with 28,000 sellers. The top three cities of Shenzhen, Guangzhou and Putian have a total of 150,479 sellers, almost accounting for more than half of the number of sellers from all Chinese cities in the top 20 list...
This place has witnessed the rapid development journey of countless entrepreneurs, from grassroots to counterattack, from penniless to company listing, batches of cross-border players have taken root and flourished in Shenzhen!
The development history of Shenzhen's big sellers: veterans and newcomers compete on the same stage
Around 2010, cross-border e-commerce, which was still a new thing, was a well-deserved sunrise industry. The four well-known cross-border companies in South China City (Aojie Technology, Youkeshu, Tongtuo and Saiwei) and the five tigers of Bantian (Shenzhen Lens Technology, Zehui, Baoshijia, Gonglang and Jiandan.com) were born in Shenzhen. In addition, there was a group of big sellers who were not well-known at the time but were struggling to start their own businesses in Shenzhen, such as Huanjin Technology, Huabao New Energy, Ruilian Technology and Yibai Network.
The now famous cross-border e-commerce platforms successively recruited Chinese sellers at that time. In 2012, Amazon officially launched the "Global Store" in China; in 2013, Wish began to recruit Chinese sellers. The platform needed China's rich products to grow bigger and stronger, and Shenzhen sellers ushered in the "best era".
In fact, the first pot of gold for China's big sellers did not come from Amazon, the now recognized giant of cross-border e-commerce platforms, but from entering China's earliest eBay platform . In 2007, the year when Baoshijia was founded, it rushed into the top ten of eBay in China, and maintained this record until 2009. Gonglang, founded in 2011, also rose rapidly in the same year of its establishment and won the top 50 of eBay China's cross-border transactions.
Looking back in time, Chinese sellers ’ cross-border e-commerce journey on the eBay platform can almost be traced back to around 2005.
In 2005, the founder of Aoji registered a company in Germany, transforming from traditional foreign trade to foreign trade e-commerce. In 2009, he returned to China and set up a team in Shenzhen, which ranked first in annual sales in eBay China, with an annual transaction volume of nearly 100 million yuan. After that, Aoji made rapid progress on the eBay platform and successfully completed the capital advancement. In 2015, Aoji was listed on the New Third Board, becoming the first cross-border e-commerce company listed in China.
In the same year of 2005, the predecessor of Huanjin Technology also joined eBay International Station and became one of the earliest cross-border e-commerce companies in China. In 2008, it ranked second in sales in eBay Greater China. In 2009, Huanjin Technology was officially established and has achieved great success on the eBay platform: in 2012, it was ranked among the top 50 cross-border transactions on eBay, in 2015 it won the eBay Greater China Sales Elite Award, and in 2017 it won the eBay 2017 Electronic Category Largest Merchant Award.
Huanjin Technology's main products cover more than 20 categories, totaling more than 100,000 commodities, such as: mobile phones, computers, digital accessories, photography and video and other electronic products, toys and model airplanes, outdoor sports and leisure, clothing, luggage accessories, home furnishings, home textiles, kitchen and bathroom, etc. It positions itself as a pan-channel and pan-supply chain seller, rather than a distributor. However, the history of many well-known players in Shenzhen all started with distributors.
Focusing on pan-category e-commerce, Baoshijia's products cover dozens of fields and more than 100,000 kinds of goods. It cooperates with more than ten cross-border platforms. Its business channels currently radiate more than 200 countries and regions around the world, and the daily order processing volume reaches 100,000. Baoshijia is on the list of major well-known e-commerce platforms. For example, it entered the top ten of Aliexpress and Lazada in 2014, and successfully ranked among the top five of Amazon, Aliexpress and Wish in the country from 2015 to 2018.
Yibai Network's products cover home gardening, industrial and commercial supplies, auto and motorcycle accessories, health and beauty, 3C products, and outdoor sports. In 2015, Yibai Network, which was established only four years ago, ushered in substantial development, with sales exceeding the 100 million mark and the team size increased to 200 people; in 2015, the sales of Youkeshu, which was selling well, had reached 1.079 billion yuan in revenue and 64.8672 million yuan in profit...
A large number of sellers, represented by the Bantian Five Tigers and the South China City Four Young Masters, had seen a "great leap forward" in revenue before the Amazon ban wave, so talking about brands was still a bit out of place at that time. However, a few Shenzhen sellers still realized that "the long-term nature of the left hand to the right hand" began to work hard on brands and supply chains and focus on compliant operations. You know, the regulatory environment for cross-border e-commerce was not strict at that time, and even if the operations were rampant, it was still possible to make a lot of money, which shows their determination to make a decisive move.
In 2014, the popular AUKEY brand was established. This forward-looking layout helped AUKEY recover quickly after Amazon banned its accounts, and also laid the foundation for its successful listing on the Hong Kong Stock Exchange. In 2015, Huabao New Energy, which was only four years old, added a new category of portable energy storage (outdoor power supply) and launched the "Dianxiaoer" brand. In 2016, it launched the "Jackery" brand again, focusing on portable energy storage products and solar panels. Saiwei Times, once known as the "king of distribution", clarified its "branding" strategy in 2016 and took the lead in the clothing track. Later, it adjusted its strategy again, shrinking its non-brand business and focusing on developing brand boutiques.
Different from many cross-border companies that focus on both distribution and branding, a group of Shenzhen cross-border e-commerce companies have determined their development positioning of focusing only on branding since their inception.
In 2016, the year of its establishment, Shenzhen Sangzhen Auto Parts Technology Co., Ltd. (hereinafter referred to as Sangzhen) launched its own brand SEALIGHT. Zhenghao EcoFlow, which focuses on portable energy storage and clean energy technology , also focused on brands when it was first established in 2017. There are many similar Shenzhen big sellers, such as SHARGE, a cross-border e-commerce brand focusing on high-end charging products and smart hardware, and Anycubic, a technology brand focusing on 3D printing (affiliated to Zongwei Cube)...
Whether it is the cross-border veterans established around 2010 or the cross-border upstarts established later, they all compete on the cross-border stage. After Amazon’s account ban, the gap became apparent.
In July 2021, Youkeshu announced that restricted funds on the Amazon platform had increased significantly, with approximately 130 million yuan of known suspected frozen funds. At its peak in 2020, Youkeshu had more than 3,000 cross-border e-commerce business personnel. By March 2022, there were only more than 500 people left, and its revenue suffered a disastrous defeat. The financial report for the first half of 2024 showed that revenue was only 228 million yuan. Although net profit increased by 47.9%, it was still a negative 30.87 million yuan.
Tongtuo Technology has been banned from selling and closed by Amazon with a total of 54 stores, and is suspected of freezing funds of RMB 41.43 million, accounting for 4.27% of the company's cash and cash equivalents at the end of 2020. In 2022 and 2023, Tongtuo's net profit attributable to the parent company's owners after deducting non-recurring gains and losses was in a loss state. In 2024, it was officially "sold" to the big seller Huakai Yibai at a price of RMB 700 million. In Q3 2024, it achieved revenue of RMB 677 million, finally turning losses into profits.
As the trend of account blocking begins, another scene is unfolding in the cross-border circle. Cross-border e-commerce companies, represented by those focusing on brands, are showing their advantages!
Relevant research reports show that in 2023, EcoFlow, a young company founded only five years ago, will have a 35% share of the global portable energy storage market, ranking first in the world, exceeding the sum of the second to fourth brands. Huabao New Energy (301327.SZ), which is also in the portable energy storage track, is expected to achieve operating income of 3.4 billion to 3.7 billion yuan in 2024, a year-on-year increase of 149.35% to 164.53%; net profit attributable to shareholders of listed companies will reach 200 million to 250 million yuan, a year-on-year increase of 215.13% to 234.91%. Recently, Huabao New Energy announced that the cumulative global sales of its portable energy storage product Solar generator have exceeded 5 million units. After 5 years, the proportion of direct sales on its own brand official website in total sales has increased from 0% to 27%.
As an outstanding player in the field of auto parts, Sangzhen has maintained an annual revenue growth rate of over 150%, among which the automotive lighting category ranks among the top in the Amazon US and Canada market. So far, Sangzhen has successfully created a number of well-known brands, including SEALIGHT (a star brand) and Torchbeam, which are deeply involved in the field of automotive lighting, KYX, which focuses on the automotive supplies category, KAX, which focuses on the automotive accessories category, and SHOCKFLO, which focuses on the automotive electronics category.
…
The old and the new are replaced by the newcomers. In every period of cross-border e-commerce, Shenzhen always has a famous seller that is famous throughout the country and even overseas! There are countless well-known cross-border sellers in Shenzhen. There are always Shenzhen people in every major platform and every sub-category!
Good genes for developing cross-border e-commerce
Many well-known cross-border sellers outside Shenzhen are investing heavily in Shenzhen due to its reputation.
Anker Innovations, with its registered headquarters in Changsha , adopts the operating model of "1 (Changsha) + 1 (Shenzhen) + N (Beijing and Suzhou in China, Seattle, Tokyo, Munich and nearly 30 other cities overseas)". Shenzhen undertakes the company 's R&D tasks and established a R&D center here as early as 2012. Not only most of the R&D personnel for AI, large models, hardware products, etc. are in Shenzhen, but also positions such as brand, design, and supply chain are set up in Shenzhen . In 2022, Anker Innovations bought a property in Bao'an District for RMB 1.54 billion, with a floor area of 51,000 square meters . It is understood that the total number of Anker's employees in Shenzhen in 2022 will be about 2,300, an increase of about 1,085 from the end of 2020. Calculated at an average annual growth rate of 20% for the company's Shenzhen employees in the future, it is expected to reach about 4,800 in 2027.
As of December 2024, Anker Innovations Shenzhen Headquarters Building is under construction in an orderly manner. The main structure of the building has been completed and is expected to be put into use in 2026 .
Platforms are also constantly heading to Shenzhen. According to a data, 80% of the world's top 20 cross-border e-commerce platforms have operations in Shenzhen.
In the second half of 2024, Amazon's first global innovation center , the Asia-Pacific Innovation Center , will be officially opened in Shenzhen . Amazon said that Shenzhen is one of the growth bases for innovative and experienced cross-border sellers, and hopes that the innovation center will be based in Shenzhen and radiate the entire Asia-Pacific region.
The preference of sellers and platforms is based on multiple advantages such as strong economic strength, complete industrial chain and active policy support.
Shenzhen is one of the most internationalized and innovative cities in China, with a superior business environment that has attracted a large number of international talents and enterprises. The "2024 Guangdong Business Environment Evaluation Report" issued by the Guangdong Provincial Development and Reform Commission shows that Shenzhen ranks first among the 21 prefecture-level cities. It is worth noting that Shenzhen's "International Trade" index ranks first in the province, up one place from 2023.
Shenzhen is located in the core area of the Guangdong-Hong Kong-Macao Greater Bay Area and has the world's leading logistics infrastructure, including Shenzhen Bao'an International Airport, Yantian Port, Shekou Port , etc. The Shenzhen Municipal Transportation Bureau recently released the 2025 Municipal Transportation Work Report, revealing that Shenzhen plans to open and increase the number of international passenger and cargo routes this year. It is reported that in 2024, the cargo and mail throughput of Shenzhen Airport will reach 1.881 million tons, a year-on-year increase of 17.6%, and the cross-border e-commerce air freight business volume will reach 326,000 tons, a year-on-year increase of 60.3%. 19 new international and regional passenger and cargo routes will be opened, totaling 89.
Shenzhen has many universities and research institutions, which have trained a large number of professionals in cross-border e-commerce, logistics, finance and other fields. At present, Shenzhen's cross-border e-commerce industry has formed a complete service ecosystem, covering logistics, payment, marketing, training, intellectual property protection and other aspects, providing all-round support for cross-border e-commerce companies.
Shenzhen has industrial clusters such as clothing, 3C electronics (computers, mobile phones, smart watches, wireless headphones, drones, televisions, audio systems, digital cameras, game consoles and smart home devices, etc.), gold jewelry, watches, furniture, underwear, glasses, medical devices, etc., forming a complete industrial chain from raw material supply, parts manufacturing to finished product assembly. 1) Shenzhen gathers more than 2,500 clothing companies, more than 300,000 employees, more than 30,000 fashion designers and 10 listed companies, with an output value accounting for 10% of the country. 2) Shenzhen's electronic information manufacturing industry output value in 2022 was 2.48 trillion yuan, accounting for one-sixth of the country, and has been ranked first among mainland cities for many years. It has grown more than 140 times in 30 years. 3) Shenzhen has gathered more than 1,500 watch companies, and its watch production accounts for 53% of China's watch production and 42% of the world's watch production, with an annual output value of nearly 70 billion yuan. Among the "top ten companies" in China's watch industry, Shenzhen occupies 7 places. 4) Shenzhen's gold and jewelry industry ranks first in the country, with an annual processing value of about 150 billion yuan and annual wholesale and retail sales accounting for more than 50% of the country. 5) Guangming District is the area with the most concentrated underwear industry in Shenzhen, accounting for 62.5% of the city's underwear production and 70% of the city's exports. 6) In Henggang Street, Longgang District, Shenzhen, nearly 1,200 production-oriented eyewear industrial enterprises produce more than 125 million pairs of glasses each year, with an annual output value of more than 10 billion yuan, and exports accounted for 80%, contracting more than half of the world's mid-to-high-end eyewear manufacturing (mainly frame manufacturing). 7) Shenzhen's gold and jewelry industry ranks first in the country, with an annual processing value of about 150 billion yuan and annual wholesale and retail sales accounting for more than 50% of the country.
In recent years, Shenzhen's e-commerce policy system has been continuously improved: the "Shenzhen Measures on Promoting the Accelerated Development of E-commerce", "Shenzhen's Implementation Plan for Promoting the High-quality Development of Cross-border E-commerce", "Shenzhen's Action Plan for Promoting the High-quality Development of Instant Retail ( 2024-2026)" and other favorable policies have been issued and implemented. Shenzhen Customs fully releases the RCEP policy dividends to help enterprises use, want to use, and know how to use RCEP preferential policies to export and enjoy benefits. In 2024, a total of 37,500 RCEP certificates of origin were issued to Shenzhen enterprises, an increase of 23.01% year-on-year, involving an export value of 7.604 billion yuan, an increase of 10.89% year-on-year. Shenzhen pioneered the "customs, exchange, tax, loan, and insurance" five-in-one cross-border e-commerce sunshine supervision service model in the country, built an efficient and collaborative sunshine public service platform, and released 4 public service products such as 9610 export, 9710 export, 1210B2C export, and independent station...
On February 28, 2025, the Shenzhen Municipal Bureau of Commerce, together with the Customs, Taxation and other departments, launched a special support policy for cross-border e-commerce collection warehouses, which clearly proposed to provide a subsidy of up to 3 million yuan to qualified domestic collection warehouse logistics companies. Collection warehouses that serve more than 50 cross-border e-commerce companies annually and have a cargo value of more than 1 billion yuan can receive an annual reward of up to 1 million yuan!
At the end of 2024, the Shenzhen Municipal Bureau of Commerce announced the proposed reward projects of the central funds (cross-border e-commerce enterprise market development support items) in 2024, and issued a total of 29 million yuan in reward funds! 23 independent sites of 16 Shenzhen cross-border e-commerce companies received a total reward amount of up to 23 million yuan, including well-known cross-border sellers such as Huabao New Energy, Zongjiang Technology, Zhenghao Innovation, Zhiyan Technology, Suqi Technology, Shanji Technology, Zongwei Cube, Shifang Sports, Dayu Sports, and Sangzhen.
This is part of the reflection of Shenzhen's real money subsidies for cross-border e-commerce. In addition to supporting sellers' operations, it also attaches equal importance to logistics and other supporting facilities surrounding operations.
Shenzhen, which has natural advantages in developing cross-border e-commerce, has never stopped its development. The various chains of cross-border e-commerce have a virtuous cycle, and different factors promote each other, eventually forming a positive closed loop that continues to move upward.
The growth and development history of Shenzhen's cross-border e-commerce is exactly the operating and development trajectory of the entire cross-border e-commerce industry. From wild growth and rampant distribution to the rise of brands and capital dominance, Shenzhen and the entire industry have always been in sync, and even led the development of the industry in many cases. Even though cross-border e-commerce has blossomed all over China and has rapidly developed and grown in areas outside Shenzhen, many industry insiders believe that the city that can surpass Shenzhen's cross-border e-commerce has not yet appeared!
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