B2B Payments

Globex Goes After China’s B2B Trade Friction

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Global Sources, a B2B media company that facilitates trade to and from Asia, is teaming up with cross-border eCommerce company Globex to ease friction associated with B2B trade involving China.

In an announcement Wednesday (Dec. 28), the companies revealed their partnership to develop a digital solution to support cross-border trade with China. Their new product will include digital customs declaration and clearance, integration of information pertaining to customs, banking and shipment and support of tax refund applications linked to an exporter’s account.

According to the companies, their goal is to develop an international trading platform that helps businesses gain visibility into all points of the trade process.

“We are committed to supporting the increasingly rapid pace of global trade,” said Global Sources Deputy CEO Craig Pepples in a statement. “Buyers can now use our website to distinguish between products available for OEM manufacture and those available for immediate resale in physical stores or through online sales channels. Our planned new service enables our buyers to take the next step and conclude a transaction for ready-to-order products, vastly shortening their time to market.”

“Our comprehensive eCommerce services, combined with Global Sources’ integrating export marketing offering, aim to provide buyers and suppliers with a more effective and efficient process to conduct trade,” added Shenzhen Globex e-Services General Manager Oliver Wu in a separate statement.

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