The comprehensive bonded zone in Wuhan Economic & Technological Development Zone (WHDZ) is set to mark a growth in orders during this year's Nov 11 (also known as Double 11) shopping spree, according to local media reports.
On June 12, the WHDZ Management Committee and Cainiao Network Technology Co reached a cooperation agreement to set up a Cainiao bonded warehouse in the WHDZ Comprehensive Bonded Zone. The warehouse was created to carry the supply chain business of cross-border e-commerce platforms such as Tmall Global, Kaola.com, and Lazada in Central China.
Currently, the WHDZ Cainiao bonded warehouse mainly serves Tmall Global.
On Aug 6, the WHDZ Cainiao bonded warehouse successfully trialed its orders, and the order volume steadily increased.
In November, the bonded warehouse has so far achieved more than 200,000 customs clearance orders, accounting for more than 90 percent of the total cross-border orders in the Wuhan customs area (online shopping bonded model).
It is expected that Double 11 this year will set a new record for Wuhan's cross-border e-commerce in daily orders and large-scale orders, setting a new milestone.
Cheng Qi, the person in charge of customs at the WHDZ Cainiao bonded warehouse, said that in preparation for the Double 11 shopping spree, they stocked goods worth 270 million yuan ($40.80 million) in advance.
"The goods are mainly cosmetics and daily necessities, such as facial masks, toners, and adult milk powders. We will select products and stock up based on the collection of big data, and our stocking volume for some popular products will be larger," Cheng added.
The WHDZ Comprehensive Bonded Zone is preparing for the construction of a new bonded warehouse. It is expected that a new warehouse of about 50,000 square meters will be built by the middle of 2021, and 30,000 square meters of it will be transformed into intelligent warehouses.
