WHAT IS MYMYPANDA CHINA CBEC PLATFORM?
XGATE has launched MyMyPanda Cross-Border E-Commerce (CBEC) platform. Our official cross-border e-commerce platform is licensed by China government, and is designed to help brands sell their products to China consumers through their online stores. At the heart of our platform is a simple ecommerce “checkout” plugin that can be installed easily in almost any overseas online store website. This one simple step gives you access to localised payment options, warehousing, faster customs & tax compliance; and streamlined delivery methods to facilitate direct-to-consumer cross-border transactions.
Every time a customer in China buys your product and click on cart checkout to make payment, MyMyPanda checkout plugin will switch the payment gateway to a China payment channel (eg. WeChat Pay, Alipay etc.). This allows your customer to make payment in local currency or Renminbi (RMB); and the sales amount will be remitted to your account in the merchant’s foreign currency after government tax.
MyMyPanda CBEC platform is a simple and low cost solution designed to provide better customer experience and greater access to the tremendous potential of China market.
China CBEC is Booming
Despite global economic slowdown in 2020, China’s cross-border e-commerce market recorded an excellent 19% YOY growth (worth US$1.8 trillion). By 2021, the cross-border e-commerce retail market has reached US$2 trillion; and this growth trend is expected to continue in the coming years.
Several important areas to note for brands looking to sell products via cross-border e-commerce in China:
• The products you sell should fall into the ‘Goods List’ or ‘Positive List’ category
• China’s customs must be able to crosscheck all ecommerce order, payment slip and logistics waybill slip submitted electronically
• Cross-border express delivery or postal services must have transactional or payment information available to show to China’s customs
Connecting you to China market directly through a single CBEC partner
Connect with China government for customs clearance & tax
Use OMS eCommerce connector to configure your online store
Provide China payment (WeChat Pay & Alipay) for your ecommerce
Connect you to strong domestic and overseas logistics partners
CBEC SERVICE MODELS
While we do not recommend companies using Universal Postal Union since this is not an official shipping channel for ecommerce business, choosing the right CBEC model with China bonded warehouse or direct shipping from overseas warehouse will depend on several factors including the type, weight and value of products.
If your business do not have physical retail presence in China and your products are not perishables with short expiration date, choosing bonded warehouse imports is most ideal. MyMyPanda CBEC platform will handle your product registration with customs for faster clearance. When your products arrived at the bonded warehouse, tax will also be paid upon clearance. That way, we can ship the products (under China government approved “good list” or “positive list”) from bonded warehouse to your customers within two to three days.
The other viable option is direct shipping to China from overseas warehouse. Since products are in your overseas warehouse, there is no initial shipping costs until an order is placed. This gives your business more inventory flexibility, but transit time will be slightly longer. MyMyPanda CBEC platform is able to offer service value by providing the same local China payment methods (Alipay, WeChat Pay and Union Pay), logistics, customs, tax compliance and delivery service. The table provides a simple comparison to help you understand the differences between these models.
ORDER FULFILMENT FLOW
1. Consumer browse overseas ecommerce website, checkout & complete payment
2. With B2C mode, products are declared with tax paid properly (9.1% or 23.1%) and shipped in advance for inspection.
3. When customers make a purchase, MYMYPANDA CBEC platform will initiate custom clearance and tax compliance via electronic submission of the three documents (ie Ecommerce Order, Payment Slip & Logistic Waybill Slip)
4. Once the customs is cleared, the package will be delivered to the customers within 3 days.
UPU is not an official business method for merchant to ship directly to customers. China Customs may hold products and notify consumer to pay tax (20% or 50%) for clearance and products may take from 2 to 4 weeks before package is cleared and delivered to customers.
PAYMENT & REMITTANCE FLOW
1. Consumer browse overseas ecommerce website and make a purchase. At checkout, will switch to MYMYPANDA Plugin with local payment channels (eg. WeChat Pay, Alipay) & customers will be required to input their China ID that will be submitted to government for validation.
2. Once payment goes through, MyMyPanda CBEC platform will handle the custom clearance and tax compliance process.
3. MyMyPanda CBEC module will submit three documents (ie Ecom Order, Payment Slip & Logistic Waybill Slip) electronically to the General Administration of Customs of the PRC for clearance
4. Once the three document is cleared, fulfilment completed, we will initiate remittance by sending the money to MyMyPanda International (less service fees for MyMyPanda)
5. MyMyPanda will convert RMB into any foreign currency and transfer to the merchant.
The gateway to China market
MYMYPANDA CBEC provides all the key support you’ll need to effectively sell products directly to China consumers
SEEING IS BELIEVING, START A FREE TEST ORDER IN FIVE STEPS
Demo Test Order
Simply provide us with your product information and our team will place a test order in the demo.
Print logistics sticker
After making payment, brand (merchant) needs to print out the logistic sticker to put on package.
Pick up package
Our logistic partner will pick up the package and get it delivered to CHINA.
Pay delivery cost
All logistics costs will be deducted from the deposit account (brand needs to top up periodically).
We’ll provide you feedback on payment and logistics information; and ensure that you can use our customs clearance service smoothly.
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