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Global Sources and Globex set to launch fully integrated online system for trading, customs declaration and payment settlement

HONG KONG, Dec. 28, 2016Global Sources (NASDAQ: GSOL) and Shenzhen Globex e-Services Inc., an integrated e-commerce service provider, are planning to co-develop a fully integrated electronic solution to facilitate more efficient cross-border trade between mainland China-based exporters and overseas buyers. As an integrated system, the new service aims to include:

  • Electronic customs declaration and clearance
  • Full integration of customs, banking and shipment information
  • The completion of tax refund applications directly to the exporter’s account

Participating buyers and sellers would gain visibility over all stages of the trade process, including payment, product inspection and shipment status.

Expected to launch in early 2017, the service is to be made available through the Global Sources website to Global Sources’ community of buyers and suppliers and is designed to support B2B buyers who require rapid delivery times for ready-to-order products.

Craig Pepples, Global Sources’ Deputy CEO, said: “We are committed to supporting the increasingly rapid pace of global trade. 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.”

Oliver Wu, General Manager of Shenzhen Globex e-Services Inc., said: “We are excited to announce this planned partnership with Global Sources, a leading facilitator for global trade over the past 45 years. Our comprehensive e-commerce services, combined with Global Sources’ integrated export marketing offering, aim to provide buyers and suppliers with a more effective and efficient process to conduct trade.”

About Global Sources

Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China.

The core business facilitates trade between Asia and the world using English-language media such as online marketplaces (GlobalSources.com), trade shows, magazines, and apps.

More than 1 million international buyers, including 95 of the world’s top 100 retailers, use these services to obtain product and company information to help them source more profitably from overseas supply markets. These services also provide suppliers with integrated marketing solutions to build corporate image, generate sales leads and win orders from buyers in more than 240 countries and territories.

Now in its fifth decade, Global Sources has been publicly listed on the NASDAQ since 2000.

About Globex

Shenzhen Globex e-Services Inc. (Globex, www.globex-incorp.com) is a professional cross- border e-commerce solutions provider under China Merchants Port Holdings Company Limited (CMPort-SEHK Stock Code: 00144). In 2013, China Merchants Bonded Logistics (a member of CMPort) and Shenzhen Qianhai Haorui Limited co-founded Globex to facilitate international trading, and the rapidly-growing cross-border e-commerce industry.

With the support and guidance of Customs and CMPort’s port, airport and bonded logistics park resources, Globex provides comprehensive cross-border e-commerce solutions including: online B2B transactions, online B2B foreign exchange clearances/settlements, cross-border B2B and B2C customs clearances, supply chain financing, and inventory management, fundamentally simplifying transactions, logistics, customs clearance, payment and receivables, as well as playing a key role in providing more professional, transparent and effective cross-border e-commerce service in China.

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