Zhejiang Jumore facilitates cross-border bulk commodities purchases

China's first cross-border bulk commodities e-commerce platform expects its online transactions will exceed $100 billion in 2016.

Lu Hongxiang, president of Zhejiang Jumore E-commerce Co Ltd, said on Wednesday that the company is dedicated to leveraging the cross-border e-commerce boom to facilitate the trade of strategic raw materials between Chinese manufacturing enterprises and global suppliers.

Unlike Alibaba Group Holding Ltd which connects buyers and sellers of daily products such as clothing and electronic gadgets, Lu said Jumore focuses on improving the global flow of chemicals, non-ferrous metals, minerals, energy, steels, and agricultural products.

The Hangzhou-based company said it has established partnerships with dozens of financing institutions at home and abroad, with business footprints in over 40 countries and regions.

"China is the world's largest purchaser and consumer of bulk commodities. There is huge potential in the e-commerce market of key raw materials," said Liu Yufeng, Secretary General of China Electronics Chamber of Commerce.

In 2014, China bought over 1.87 billion tons of key bulk commodities from global suppliers.

"The price of bulk commodities is easily influenced by the global supply and demand. With the help of a cross-border e-commerce platform, we can centralize orders from Chinese manufacturing enterprises to help them get raw materials at lower prices," Lu said.