Core Points - The China-Shanghai Cooperation Organization (SCO) Local Economic and Trade Cooperation Demonstration Zone has officially launched the Silk Road E-commerce TIR cross-border channel, enhancing logistics efficiency for cross-border e-commerce among SCO member countries [1][2][3] Group 1: Market Overview - The SCO member countries' online retail market is projected to exceed $3.2 trillion by 2024, with China's cross-border e-commerce imports from SCO countries reaching $53 million [1] - The rapid development of cross-border e-commerce among SCO countries demands higher standards for logistics transportation in terms of timeliness, accuracy, and flexibility [1] Group 2: TIR Cross-Border Transport - TIR, based on the United Nations' International Road Transport Convention, aims to simplify customs procedures and enhance trade facilitation and safety in international transport [2] - The newly opened Silk Road E-commerce TIR cross-border channel will focus on cross-border e-commerce operations, exploring the "TIR + cross-border e-commerce" business model [2] Group 3: Infrastructure and Operations - The demonstration zone is the only national-level platform in China for local economic cooperation with SCO countries, having opened four TIR international road routes to countries like Russia, Kyrgyzstan, and Kazakhstan [3] - In the first seven months of this year, the demonstration zone dispatched 239 TIR international transport vehicles, maintaining the highest dispatch volume in China [3]

Core Viewpoint - The TIR (Transports Internationaux Routiers) logistics model is rapidly gaining traction in cross-border transportation due to its efficiency and flexibility, particularly in the context of increasing global trade uncertainties and the growth of cross-border e-commerce [3][12]. Summary by Sections TIR Overview - TIR is established based on the UN TIR Convention, allowing cross-border transport across 78 contracting countries with a unified international guarantee system, enabling "one declaration, one vehicle direct delivery" without changing vehicles or inspections [5][6]. Advantages of TIR - TIR significantly reduces transportation time, with shipments to Moscow taking only 11 days, compared to 55 days by sea and 30 days by rail, thus enhancing cash flow and reducing costs for businesses [6][9]. - TIR offers a balance of speed and cost, being faster than rail and sea transport while being more affordable than air freight, making it attractive for e-commerce clients who prioritize delivery speed over cost [6][12]. Limitations of TIR - TIR has limitations regarding shipment size; smaller shipments may incur higher costs, and larger machinery may not fit in available vehicles [7]. Market Growth and Expansion - The TIR model began to gain traction in 2023, with significant growth observed in 2024, as businesses became more familiar with the model and its capabilities [9][12]. - In the first half of 2025, TIR transport vehicles at the Manzhouli port reached 694, a 342% increase year-on-year, with a total value of 890 million yuan, marking the highest record since the TIR service began [9][10]. Regional Developments - TIR services have expanded from northern to southern cities in China, with new routes established in Zhejiang, Guangdong, and other regions, enhancing connectivity to Central Asia and Southeast Asia [10][11]. Policy Support and Market Demand - The growth of TIR is supported by China's policies to optimize cross-border e-commerce regulations, leading to increased demand for TIR services, with many clients needing to book vehicles weeks in advance [12][13]. - The TIR model is expected to strengthen trade relations with Belt and Road Initiative countries, contributing to regional economic integration [13][14].

Group 1 - Longhua New Materials' controlling shareholder plans to reduce holdings by up to 1% of the company's shares, amounting to a maximum of 4.3 million shares [1] - Qingdao Double Star reported a net loss of 186 million yuan in the first half of 2025, with revenue of 2.272 billion yuan, a year-on-year decrease of 0.31% [2] - Huakang Clean's controlling shareholder and chairman is under investigation and has been placed under detention, with the general manager temporarily taking over the chairman's responsibilities [4] Group 2 - Century Tianhong's controlling shareholder plans to reduce holdings by up to 3% of the company's shares, totaling a maximum of 10.9837 million shares [5] - Caesar Travel's shareholder plans to reduce holdings by up to 3% of the company's shares, with a maximum of 16.0379 million shares through various methods [7] - Zhang Xiaoqin's shareholder plans to reduce holdings by up to 540,100 shares, representing 0.36% of the total share capital after excluding repurchased shares [9] Group 3 - Zhenlei Technology's controlling shareholder plans to transfer 8.3052 million shares, accounting for 3.88% of the total share capital [11] - Hangxin Technology's borrowings increased by 201 million yuan, exceeding 20% of the net assets at the end of the previous year [12] - Aileda's three executives plan to collectively reduce holdings by up to 149,100 shares [13] Group 4 - Iceberg Refrigeration reported a net profit of 79.5411 million yuan in the first half of 2025, a year-on-year increase of 1.29% [14] - Jindan Technology's director plans to reduce holdings by 1.5 million shares, accounting for 0.66% of the total share capital [15] - Heshun Technology's shareholder plans to reduce holdings by up to 655,300 shares, representing 0.82% of the total share capital [18] Group 5 - Tianshi Technology's shareholder plans to reduce holdings by up to 5.928 million shares, accounting for 3% of the total share capital [19] - Yuhuang Jinlead plans to raise up to 400 million yuan through a private placement to its controlling shareholder [20] - China Shenhua reported coal sales of 24.3 million tons in July, a year-on-year decrease of 5.5% [21] Group 6 - Jialitu's controlling shareholder plans to reduce holdings by up to 541,800 shares, representing 1% of the total share capital [22] - Wanlin Logistics' controlling shareholder and related parties plan to reduce holdings by up to 599,200 shares, accounting for 1% of the total share capital [23] - Xueqi Electric plans to acquire 65% of Hefei Shengbang's equity for 47.45 million yuan [24] Group 7 - Wantong Development plans to invest 854 million yuan to acquire 62.98% of Shuduo Technology [26] - Ganhua Science and Technology plans to acquire 65% of Xi'an Ganxin Technology for 388 million yuan [28]

随着北欧地区夏季应季商品、户外用品等商品需求的激增，相关跨境电商商品迎来订单高峰。菜鸟凭借 强大的全链路物流能力及高效的跨境物流网络，助力中国商家快速响应市场需求。 8月14日，菜鸟跨境物流数据显示，北欧五国(瑞典、挪威、丹麦、芬兰、冰岛)全链路产品爆发式增 长，7月跨境单量环比实现三位数激增，成为欧洲电商旺季中增速最快的市场之一。除北欧夏季商品需 求的显著提升外，这一增长主要得益于菜鸟在全链路跨境物流能力上的持续优化。 据悉，目前菜鸟在北欧地区的时效和覆盖范围市场领先。具体来看，菜鸟北欧五国全链路履约时长比行 业再快2天，并支持北欧五国全境的"到门"配送(格陵兰岛除外)，覆盖北极圈。同时，菜鸟提供灵活的 末端供应商配置，商家可根据商品特性自主选择最优的末端配送服务商。据菜鸟调研，商家满意度在同 类型产品中居市场首位。 除了在履约效率上持续迭代，菜鸟也在不断打磨跨境产品力。针对北欧市场，菜鸟跨境物流打造了专属 的分层产品矩阵，不仅有快线、标准、经济产品，菜鸟还增设了涵盖轻小件、服装专线、大货专线、化 妆品专线等行业解决方案，为客户提供多样的定制化产品，以差异化服务满足多元需求。 "和菜鸟合作的一年多时间里，我 ...

Core Insights - The article highlights the trends in China's supply chain going global, characterized by globalization, high-end development, intelligence, and localization, which are transforming product exports into a comprehensive industrial ecosystem abroad [2] - The report titled "Top Ten Trends of China's Supply Chain Going Global by 2025" aims to explore new market opportunities and business growth dynamics in the global industrial landscape [2] Group 1: Background of China's Supply Chain Going Global - China's supply chain has undergone several phases, from integration into the global trade system (2001-2008) to cost-driven migration (2009-2014), and from supply-side reforms to capacity overflow (2015-2018), culminating in trade protection and supply chain decentralization (2019-2023) [6] - The current phase (2024 onwards) is characterized by a shift from passive industrial transfer to a technology-ecosystem-led paradigm, with a focus on establishing a resilient global supply network [6] Group 2: Driving Factors of China's Supply Chain Going Global - The trade barriers have evolved from simple tariffs to a combination of rules, including localization rates and green standards, prompting companies to diversify their supply chains globally [8] - The global e-commerce market continues to grow, particularly in emerging markets like Southeast Asia, the Middle East, and Latin America, driving the momentum for China's supply chain to expand internationally [14] Group 3: Trends in China's Supply Chain Going Global - Chinese brands are focusing on high-end development, creating a new ecosystem for supply chain value upgrades through high-value products and technological advancements [20] - The transition from product export to industrial export is facilitated by leading enterprises driving upstream and downstream collaboration, forming regional supply chain centers [22] - Companies are adopting a dual-track approach of globalization and localization, integrating local production and regional supply chains to build complete industrial ecosystems in target markets [22][25] Group 4: Technology and Logistics Transformation - The supply chain is experiencing a systematic upgrade from "capacity output" to "ecosystem empowerment," reducing barriers for SMEs to participate in global trade and enhancing China's dominant position in the global supply chain [29] - Cross-border logistics and warehousing are evolving with automation and operational model changes, driven by the growth of cross-border e-commerce [33][35] - The share of third-party cross-border logistics is increasing, with overseas warehouses expected to become the mainstream model due to their cost-effectiveness and efficiency [35][39] Group 5: Local Market Demand and Procurement - Local market regulations, international trade barriers, and cost considerations are accelerating the localization of supply chains, with companies establishing local warehousing systems to enhance supply chain responsiveness [41][44]

Group 1 - Didi has invested in the autonomous delivery vehicle company "Xinshiqi," confirming its strategic expansion into the unmanned delivery sector [1] - The partnership with Xinshiqi allows Didi to leverage its platform advantages and user base, positioning itself in the unmanned delivery market [1] - The application of unmanned delivery technology is expected to reduce labor costs and enhance delivery accuracy and efficiency, improving user experience [1] Group 2 - Xiaohongshu has announced the establishment of a large commercial sector to enhance commercialization and transaction synergy [2] - The new structure will be led by COO Conan and CMO Zhiheng, aiming for better resource allocation across products, technology, and talent [2] - This adjustment is expected to improve Xiaohongshu's competitiveness in the content e-commerce sector by facilitating closer collaboration between advertising and transaction businesses [2] Group 3 - AliExpress has upgraded its logistics warehouse in Dongguan, Guangdong, making it the first fully automated cross-border logistics park [3] - The warehouse is primarily used for the domestic circulation of packages for European consumers, with domestic transport times potentially reduced by up to 6 hours [3] - The automation of logistics processes is anticipated to lower labor costs and enhance the precision and efficiency of logistics delivery [3]

Group 1 - Didi has invested in the autonomous delivery vehicle company "Xinshiqi," confirming its strategic layout in the unmanned delivery sector [1] - The partnership allows Didi to leverage its platform advantages and user base, positioning itself in the unmanned delivery market [1] - The application of unmanned delivery technology can reduce labor costs and enhance delivery accuracy and efficiency, improving user experience [1] Group 2 - Xiaohongshu has announced the establishment of a large commercial sector to enhance commercialization and transaction synergy [2] - The COO and CMO will lead the new sector, promoting cross-departmental collaboration of resources such as products, technology, and talent [2] - This restructuring aims to improve resource allocation in the commercial and transaction fields, enhancing competitiveness in the content e-commerce sector [2] Group 3 - AliExpress has upgraded its logistics warehouse in Dongguan, Guangdong, to become the first fully automated cross-border logistics park [3] - The warehouse is primarily used for domestic circulation of packages for European consumers, with domestic transport times potentially reduced by up to 6 hours [3] - The automation of logistics processes can significantly shorten package transit times and improve user experience while also reducing labor costs and enhancing delivery precision and efficiency [3]

根据他给出的账单，以运往莫斯科为例，海运和铁路运输分别需要55天和30天，而TIR耗时只有海运的 1/5和铁路的1/3。更高的履约效率帮助企业快速回笼资金，实现了货物周转，对应的成本也大幅降低。 一周前从浙江温州瑞安出发，满载着箱包半成品的国际公路运输车辆（下称"TIR"）已在内蒙古满洲里 口岸完成通关，再过4天左右就将抵达俄罗斯莫斯科。 "以前通过公路进行跨境运输，是要到境外换车倒装的，（经过不同国家的）过境也要查验。但TIR不 仅中途过境不查验，也不用换车倒装。"负责TIR运营的温州聚鑫国际多式联运港业务经理许建勇告诉 第一财经，换车倒装往往会面临货物或外包装破损的风险，而高价值或精密仪器等产品，或者对外包装 要求较高的电商类货物，尤其在意这一风险，因此对于TIR的需求越来越高。 在全球贸易不确定性加剧的背景下，随着跨境电商业务的蓬勃发展以及中国外贸结构的优化升级，这种 具有更高时效和灵活性的物流模式正在顺应市场需求快速崛起，也为今年的跨境物流提供了确定的增 量。 TIR有何优劣 TIR是在联合国《国际公路运输公约》（下称《TIR公约》）基础上建立的跨境公路物流模式，凭借统 一的国际担保系统，可在全球78 ...

Economic Development in Nanning - Nanning's industrial output value increased by 32.2%, leading the city [1] - The city achieved a 14.8% year-on-year growth in industrial output value and a 17.8% increase in industrial added value in the first half of 2025 [1][3] - Industrial investment grew by 12.4%, reflecting a systematic restructuring of the industrial park space [1] Industrial Transformation and New Growth Drivers - Nanning's industrial structure is shifting towards high-end, intelligent, and green development, with significant growth in the new energy sector [3] - The electronic information industry saw a 25.8% increase in added value, while the aluminum processing industry is moving towards high value-added areas [3] - The optical module business of Chenrui Optics is expected to see a revenue increase of over 50% year-on-year in 2024 [3] Artificial Intelligence Integration - The China-ASEAN AI Innovation Cooperation Center is facilitating AI applications in various industries, including tourism [4][7] - Nanning has signed 51 domestic AI projects and 16 agreements with ASEAN companies, establishing an international innovation matrix [7] - The city is focusing on integrating AI with traditional industries, enhancing the digital economy and AI collaboration with ASEAN [7][8] Cross-Border Trade and Logistics - Nanning launched its first "land-air intermodal" transport route, significantly reducing delivery times by over 70% compared to traditional sea transport [11] - The city is enhancing its transportation network to meet growing cross-border logistics demands, facilitating trade with ASEAN countries [13] - The international railway port in Nanning is actively supporting the transport of goods to Vietnam, boosting regional trade [13] Market Opportunities and International Cooperation - Nanning is attracting AI companies to meet the substantial demand from ASEAN markets, with a focus on smart education, agriculture, logistics, and healthcare [8][10] - The city is positioning itself as a hub for digital transformation in Southeast Asia, leveraging AI technology for local market needs [10] - Nanning's automotive industry, particularly in new energy vehicles, is expanding its international market presence, with sales increasing by over 40% year-on-year [16]

Core Viewpoint - Chinese logistics companies are accelerating their efforts to capture the global market, recognizing that the domestic express delivery industry has entered a highly competitive phase, while the global market presents new growth opportunities and higher profits [3][4]. Market Overview - The global cross-border logistics market is projected to grow from 13.3 trillion yuan in 2020 to 18.6 trillion yuan by 2024, with a compound annual growth rate (CAGR) of 8.75%. By 2025, the market size is expected to reach nearly 20 trillion yuan [3][4]. Competitive Landscape - The competition in overseas markets is intensifying, with increasing pressure on delivery speed and pricing. Leading express delivery companies are now striving to achieve delivery times of within one week, which has become a critical factor in the industry [5][6]. - The willingness of overseas customers to pay for faster delivery is rising. Currently, 70% of Cainiao's main products are priced at $5 for 10-day delivery, while 20-30% are at $10 for 5-day delivery [6][7]. Strategic Focus - Cainiao has shifted its strategic focus towards high-profit global logistics, with over 50% of its global business coming from external clients. The company is now in its "3.0 era," emphasizing globalization and technology [5][6]. - E-commerce remains a key driver for the globalization of logistics companies, with 70% of Cainiao's global business related to e-commerce [6][7]. Challenges and Adaptations - The logistics industry faces increased uncertainty due to changing tariffs and trade policies, which have raised compliance risks and costs. For instance, the U.S. has eliminated the $800 "small exemption" tariff policy, impacting cross-border e-commerce [10][11]. - Companies are adapting by enhancing network efficiency to offer more cost-effective solutions, while also recognizing that cross-border direct shipping models will become more differentiated [10][11]. Growth Potential - There is significant growth potential in overseas e-commerce markets, with current penetration rates in most countries ranging from 10% to 20%. The trend suggests that these rates could rise to 20%-40% in the future, providing a strong basis for the global expansion of Chinese express delivery companies [11][12].