East Chinese city constructs global cross-border e-commerce base

HANGZHOU - China's eastern e-commerce hub Hangzhou has released plans to establish itself as a global e-commerce platform by the end of 2017.

According to the Hangzhou e-commerce pilot zone development plan published last Friday by the local government, the city will establish a system of information sharing, financial services, intelligent logistics, e-commerce credit, statistical monitoring, and risk control, in order to promote cross-border e-commerce by the end of 2017.

The city will also adopt innovative measures for customs clearances, tax refunds, finance and logistics, to meet the need of global e-commerce development.

According to the plan, the city will have over 5,000 cross-border e-commerce companies, more than 10 cross-border e-commerce industrial parks and more than 20 cross-border e-commerce incubation platforms in 2017.

About $30 billion of exports and $10 billion of imports will be realized through the city's cross-border e-commerce platform.

In March 2015, China's State Council approved the setup of the China (Hangzhou) cross-border e-commerce pilot zone. The zone is expected to settle problems in cross-border e-commerce, build complete industrial chains and provide experience that can be utilized by the sector across the country.