Approval to set up 12 more pilot zones
Print Edition
CHINA will set up 12 more pilot zones for cross-border e-commerce, the State Council said yesterday.
The zones have been approved in Shanghai, Tianjin, Chongqing, Hefei, Zhengzhou, Guangzhou, Chengdu, Dalian, Ningbo, Qingdao, Shenzhen and Suzhou, according to a statement released by the State Council.
The move followed the approval of a pilot zone in Hangzhou, where Alibaba is based, in March. The new pilot zones will model themselves on Hangzhou while meeting local development needs, the statement said.
By experimenting with new models for technical standards, business procedures, regulatory mechanisms and other areas, the new zones aim to replicate experience to businesses nationwide.
The zones will draw businesses, help create jobs and nurture new business models to boost foreign trade and the economy, the State Council said earlier in a meeting.
The growth of the pilot zones came as the country is facing sluggish foreign trade. The total value of exports and imports for 2015 shed 7 percent year on year, falling for the first time in six years.
The Ministry of Commerce predicted the trade volume of cross-border e-commerce this year at 6.5 trillion yuan (US$987 billion) and will account for 20 percent of China’s foreign trade in a few years.
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