Galaxy Securities: Cross-border logistics is expected to benefit from the positive trend of cross-border e-commerce in the coming year.

According to the research report of China Galaxy Securities, at the level of cross-border logistics sector, from a macro perspective, current outward export has become a key layout direction, with cross-border e-commerce accelerating the development of new foreign trade formats; from a medium-term perspective, the optimization and upgrade of domestic manufacturing brand's offshore products structure in China has accelerated the pace of global expansion of China's cross-border e-commerce. Based on this, China's "four small dragons going abroad" have risen against the trend in the global business, further catalyzing a wave of accelerated growth in cross-border e-commerce demand. China Galaxy Securities believes that as an important link for cross-border e-commerce, cross-border logistics is expected to benefit from the upward trend of cross-border e-commerce prosperity during the year.