China’s foreign trade has shown strong resilience and vitality this year. In particular, cross-border e-commerce, with its advantages in online transactions, contactless delivery and short transaction chains, has become key to stabilizing foreign trade and promoting consumption.
Recently, China’s State Council approved the establishment of comprehensive pilot zones for cross-border e-commerce in another 33 cities and regions across the country.
It marks the seventh batch of comprehensive pilot zones for cross-border e-commerce set up in China, as well as the second time the country approves the establishment of such pilot zones this year.
This move has brought the tally to 165, covering 31 provincial-level regions across the country.
Today, these pilot zones have become an ecosystem and carrier for the development of cross-border e-commerce featuring synergetic innovation in institutions, management and services.
They have set up information sharing, financial service, smart logistics, credit, statistical monitoring and risk prevention systems, as well as a policy framework centering around the online platform of single window services and brick-and-mortar industrial parks.
Besides, nearly 70 measures of mature experiences and innovative practices have been promoted nationwide.
Hangzhou, east China’s Zhejiang province is home to China’s first comprehensive pilot zone for cross-border e-commerce. Over the past seven years, the city has nurtured 49,000 cross-border e-commerce sellers, who registered over 2,000 trademarks overseas and reported a total export value of 100 billion yuan ($14.24 billion).