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Skyrocketing trade
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Hangzhou鈥檚 cross-border e-commerce volume skyrocketed to US$3.46 billion last year, 170 times that of 2014. The enormous increase has largely been attributed to the central government鈥檚 decision to set up the Hangzhou cross-border e-commerce pilot zone.
Last year, 366 cross-border e-commerce companies were registered in Hangzhou, including 99 renowned companies such as Singapore-based Global Logistic Properties and China鈥檚 second-biggest online retailer jd.com.
In March 2015, the State Council approved the creation of Hangzhou cross-border e-commerce pilot zone, which is to explore solutions to problems in cross-border e-commerce and provide experiences for other places in the country. As of January, 12 more cross-border e-commerce zones have been set up in several cities in China, including Shanghai, Suzhou, Guangzhou, Chengdu and Shenzhen.
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