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According to data from the General Administration of Customs, in the first 10 months of this year, my country's total import and export value reached 34.32 trillion yuan, a year-on-year increase of 0.03%. Among them, the total export value was 19.55 trillion yuan, a year-on-year increase of 0.4%; the total import value was 14.77 trillion yuan, a year-on-year decrease of 0.5%.
It can be seen from the above data that as the benefits of China's policies to stabilize the economy and foreign trade continue to be released, consumption has clearly rebounded and the positive development trend of foreign trade has further emerged. However, from the monthly data, my country's total import and export value in October was 3.54 trillion yuan, an increase of 0.9%. Among them, exports were 1.97 trillion yuan, a decrease of 3.1%. At present, not only are there still cross-border sellers struggling in this month, but some old factories have also closed down due to the impact of industry turmoil. It is learned that according to industry insiders, since the end of October this year, three old Dongguan factories have announced their closure. On October 20, a well-known Hong Kong-funded factory in Dongguan issued a closure notice , stating that due to severe losses in recent years, the company was unable to reverse the downward trend and decided to close in batches and stop production from October 31 to November 20, 2023. It is understood that the factory's main business is the production and manufacturing of hardware products for external sales, covering the design, manufacturing and sales of sports equipment and accessories, wheel sets and other products. The company has been established for 31 years and has a good reputation in overseas markets. On November 6, a well-established packaging factory in Dongguan also issued a letter to employees, announcing that the company would close down soon. The notice mentioned the reason for the closure, which was that the company had been operating at a heavy loss for many years and was unable to repay its debts. It is understood that the factory entered mainland China in 1992, and it has been 31 years since then. It once became one of the largest comprehensive packaging companies in the country. It was also the designated packaging supplier for well-known brands such as Walmart, Nike, and Avon. At its peak, it had 2,000 employees and was extremely famous in the plastic flexible packaging industry. On November 7, a well-known old electrical appliance factory in Dongguan also issued a notice on the closure of the molding factory , announcing that the molding factory would be completely closed on December 31, 2023, and financial compensation would be made to affected employees in accordance with the law. The notice shows that the molding plant has been in operation for nearly 30 years , but due to the impact of the global epidemic for nearly three years, the number of orders has dropped sharply since the beginning of 2021, and it has been in a state of continuous deficit. The company has been unable to persist until today and has no choice but to close the molding plant. ▲ The picture comes from the seller’s disclosure From the above, it can be seen that since the end of October this year, the wave of closures of foreign trade factories in Dongguan seems to be particularly turbulent. According to data released by the Dongguan Municipal Bureau of Statistics, in the first half of this year, Dongguan's GDP was 526.21 billion yuan, with a growth rate of only 1.5%, ranking last among the 24 cities in the country with a GDP of over one trillion yuan. The reasons for this are, on the one hand, shrinking international market demand, and Dongguan's economy is highly dependent on foreign countries, suffering the greatest impact from external markets, with the order volume of some foreign trade factories plummeting; on the other hand, with increasingly fierce competition in the industry, Dongguan's foreign economy is in urgent need of transformation and innovation, and coupled with the increase in production costs, low-tech, labor-intensive factories are beginning to close down and relocate. However, it is worth noting that although the growth rate of Dongguan, known as the "world factory", has slowed down, some domestic factories have benefited from the growth of product categories and achieved good results this year. And from the overall situation, factory-type sellers are still the "guests of honor" on e-commerce platforms such as Temu and Amazon. (The [Find a Factory] platform will be launched soon, selecting 18 popular categories and sincerely inviting different types of source factories to settle in. For details, please contact: zimo, or send a private message to [Find a Factory] in the backstage to settle in.) The cross-border e-commerce industry has gone through many stages of development, from its initial barbaric and extensive development to intensified competition, supply chain advantages prevailing, and now brands and products have become the key winning points. No matter how the market trends change, the industry prospects are still clear. This has also ushered in an era of "letting a hundred flowers bloom" for the cross-border e-commerce industry: on the one hand, the main battlefield for cross-border outbound expansion has expanded from being concentrated in some popular cross-border cities to more regions and industrial belts across the country; on the other hand, the main players in the industry have become more diversified, from the majority of traditional trade sellers in the past to the current influx of well-known brands and factory-type sellers in industrial belts across the country. At the same time, Temu, which has swept the world with its "extremely low prices", has set off a wave of reform called "full hosting model", allowing many e-commerce platforms to see a new growth turning point: relying on high-quality supply resources to stand out in the stock competition. The factory-type sellers upstream of the supply chain are undoubtedly the center of the storm in this competition for existing resources. To date, not only have domestic overseas e-commerce platforms such as AliExpress, Lazada, and TikTok Shop launched similar full-hosting models to attract factory-type sellers, but even Amazon, the leading foreign e-commerce platform, has begun to "recruit troops" for its supply chain layout. It is understood that recently, some sellers have reported that an entrance called "Manufacturing Central" has appeared in the Amazon backend. ▲ The picture comes from the seller’s disclosure According to sellers, "Manufacturing Central" has been trialed in the Southeast Asian market using an invitation system as early as 2022. Invited sellers can use this entrance to select suitable factories or manufacturers and place orders directly. In this regard, some industry insiders analyzed that, on the surface, this entrance of Amazon is aimed at connecting factories and sellers , but considering the aggressive development of fully managed platforms such as Temu and SHEIN, Amazon is very likely to use this function to attract factory-type sellers and cultivate supply chain resources to pave the way for subsequent supply chain layout. However, as of now, the above arguments are all speculations by sellers, and there is no conclusion yet on what kind of layout Amazon will implement in the future. But there is no doubt that competition is becoming increasingly fierce and low-price whirlpools are prevalent. Whether it is cross-border sellers or e-commerce platforms, whoever can be the first to grasp high-quality supply chain resources will have a better chance of winning this stock competition.
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