Shenzhen Introduces New Policy to Help Domestic Vaping Companies Expand Overseas

In the domestic e-vaping industry, there is a popular saying: "The global e-vaping market looks to China, and within China, it looks to Shenzhen; within Shenzhen, it looks to Bao'an."

Shenzhen is a key city for global e-vaping production and export. According to statistics from Shenzhen Customs, in the first two months of this year, the city's e-vaping exports grew by nearly 40%. In 2022, the total value of Shenzhen's e-vaping exports reached 460.9 billion yuan, accounting for 68.3% of the national total. In the first two months of this year, the total value of Shenzhen's e-vaping exports was 71 billion yuan, a year-on-year increase of 38.9%, accounting for 66.9% of the national e-vaping export total, maintaining its position as the largest e-vaping export city in the country.

Shenzhen Customs stated that the vast majority of e-vaping exports from Shenzhen are conducted by private enterprises through general trade. In the first two months, the export value of private enterprises in Shenzhen reached 60.9 billion yuan, an increase of 42%, accounting for 85.8% of the city's e-vaping export total. Among them, the Southeast Asia region saw rapid growth, with an export value of 4.2 billion yuan, a 1.3-fold increase, accounting for 6%.

DKECE believes that the first release of e-vaping export data by Shenzhen Customs injects new momentum into e-vaping companies going overseas.

During the process of e-vaping going overseas, difficulties and bottlenecks are inevitable. The industry has previously faced logistics issues, but with the efficient coordination of the Bao'an District government and the e-vaping special committee, Shenzhen Airport and relevant testing units have developed documents such as the "E-vaping Product List Enterprise Recognition Standards" and "Differentiated Security Inspection Guidelines for Air Export," which have truly helped us solve logistics problems and opened up the path for companies to go overseas.

(Export products undergo differentiated security inspections at Bao'an International Airport)

In recent years, overall overseas data has performed well, and market research institutions predict that the global e-vaping market will grow at an annual rate of 17%, with the market size expected to reach approximately $55 billion by 2024.

The overseas expansion of e-vaping is a test of the industry's standardized development and continuous progress. Currently, countries are increasingly regulating laws and regulations related to e-vaping, and companies need to adapt to regulatory changes, making compliance development a basic principle. They should also pay more attention to investment in research and development and corporate social responsibility, such as continuously improving product quality, protecting minors, and exploring environmental recycling technologies, which will drive the entire industry towards more compliant and sustainable development.