Expanding at an invincible pace every day, the e-commerce market in China has now become the world’s largest marketplaces with retail transactions accounting up to 1.99 trillion US$ just in 2019. Experts believe that the growth of businesses and retail in the country came to a halt after trade war conflicts and economic challenges, but Chinese manufacturers and B2B companies did well to cover up in the past couple of months.
The main driving force behind China’s e-commerce industry are the unwavering B2B marketplaces in the region that contribute to almost 30% of the country’s economy. With digitization and virtual connectivity all around, marketplaces have found a range of platforms to connect with buyers and suppliers, carry out transactions and network each other’s services. The type of trade between businesses or B2B dealings is expected to generate double revenues than that of B2C.
If you are a business owner looking to establish a business hold in the China B2B Marketplace, then now is the time. Find out a comparison between the best B2B platforms that you can use to grow your business in 2019.
Alibaba.com is undoubtedly the largest business platform in China and currently ranks 8th among the top e-commerce platforms in the world. Within a span of 20 years, the company has scaled to unmatchable heights and set its own standards for competitors and emerging entrants.
By 2019, Alibaba has over 8 million registered B2B business traders belonging to 220 countries and regions. The platform with a net worth of 25 billion US$ effortlessly leads the Chinese trade market helping it grow and nurture the entire B2B industry.
With its main headquarters in Nanjing, Made in China stepped into the B2B industry in 1998. Besides being a leading B2B platform, the website offers a massive medium where buyers from across the world look to connect to Chinese suppliers and vice versa. Its business model depends on a basic registration fee, value-added services, advertisement charges and certification for all suppliers who register to the platform. Out of the other China B2B trade sites, Made-in-China gets a whopping 10 million visitors every day. The B2B website is one of the emerging B2B marketplaces that will rule most of the Chinese market in the years to come.
3. GLOBAL SOURCES.COM
Global Sources.com is a multi-channel China B2B platform that deals entirely with promoting B2B businesses through trade show campaigns, international fairs and business publications. Apart from being an online trading platform, it lets businesses network their services through publications and then finds potential business clients.
ECVV is China’s first end-to-end procurement service website that offers transparent product sourcing and delivery supply all over the world. The platform ensures high-quality product supply and clear payments at both ends. For businesses looking to connect with potential business clients for purchasing products and services, ECVV can help you find the right clients and recommend those with similar interests.
5. EXPORT HUB
Like other B2B platforms, Export Hub is a significant marketplace in China that connects buyers and sellers from across the globe. As technology incorporates more into the business world, B2B websites have become effective, reliable and more operable platforms for B2B business managers. Similarly, Export Hub uses cutting-edge technology, skills and latest tools to facilitate the business processes between the two parties.
Export Hub, unlike other B2B marketplaces, allows clients a range of packages – standard, gold, digital and VIP, which further determines what type of buyers and suppliers they want to connect to, the market they want to target and the level of business they have to carry. The B2B website also features among the top marketplaces in China with a massive attraction from B2B buyers and suppliers worldwide.
1688.com is China’s largest wholesale and sourcing website that is developed by Alibaba.com. Its main focus lies in selling wholesale products and providing procurement services to the local Chinese B2B market and clients from across the world. The website has an e-commerce business model that assists 16 major industries in connecting them to potential B2B buyers.
While almost all of the above B2B marketplaces assist large-scale businesses and industries, Makepolo.com is especially designed to help Small-to-Medium sized businesses grow and connect to clients globally. The website has over 10 million SMEs registered in China, which it helps get exposure and promote their services to B2B businesses. Makepolo.com provides SMEs with trade optimization, timely deliveries, an extensive range of products and networking opportunities.
With its headquarters in the Chinese business hub, Beijing, HC360 is a well-known B2B marketplace that enables trade connections between two businesses. It incorporates technology by using digital sales and marketing, SEO techniques and B2B trade websites to make business services easier and more accessible. HC360 has both an online and offline platform to facilitate users for B2B networking.
The above-discussed B2B marketplaces in China make up 70% of the B2B industry in the region. With the transformation and emergence of technology, this marketplace is expected to revolutionize the prospects of the entire e-commerce market and trading cycle globally. It not only powers up the local industry but also contributes to the global market, boosting economies and trade opportunities of buyers and suppliers worldwide.