New drivers for e-commerce eyed
Print Edition
CHINA will promote its e-commerce to the world and expand business in new sectors, said a senior official with the country’s top economic planner yesterday.
The State Council, China’s Cabinet, on May 7 released a guideline on e-commerce development that seeks to foster new growth drivers amid the economic slowdown.
The government pledged to create a favorable environment for e-commerce by cutting red tape, easing market access and lowering taxation.
Lin Nianxiu, deputy director of the National Development and Reform Commission, said China’s e-commerce sector needs to start more businesses in rural areas, promote networking and service-oriented management in manufacturing and upgrade traditional commerce.
New e-commerce businesses are encouraged in online payment, financing, insurance and funds as well as services in car rental and medical diagnosis, Li added.
He also suggested that direct yuan-denominated investment in foreign countries should be supported.
The e-commerce industry has seen a boom in recent years that helped stimulate consumption and investment, and the government is pinning its hopes on the sector to create jobs and facilitate the ongoing process of industrial upgrading.
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