G20 members could follow China to launch cross-border e-commerce experiment zones

G20 members could follow the example of the Chinese government, which is launching a series of cross-border e-commerce experiment zones, Gianfranco Casati, Group Chief Executive, Emerging Markets, Accenture, said on Friday.

Hangzhou, the host city of the G20 Summit, was the first to create a cluster of like-minded businesses benefiting from government support and subsidies, he said.

Digital will be the new driver of China's future growth. Casati said that digitalization will be a game changer, especially for SMEs' access to markets, labor, and capital; providing them with opportunities for innovation in products, services, and business models; and increasing the efficiency of government operations that affect them.

Governments should work more closely with financial institutions to create a framework for non-bank finance to boost equity and debt financing for SMEs, as well as to stimulate greater use of alternative sources, he said.

"Above all, eTrade is significantly reducing the trade costs for SMEs and easing access to customers. We support the creation of an Electronic World Trading Platform (eWTP), to incubate eTrade rules and foster a more effective and efficient policy and business environment," he said.