China’s State Council approves more cross-border e-com pilot zones

China’s State Council recently approved setting up more cross-border e-commerce pilot zones in 27 cities and regions to stabilise foreign trade and foreign investments. The zones, including those in Erdos in Inner Mongolia and the city of Yangzhou in Jiangsu Province, will replicate and advance the experience learned from the previous five batches of pilot zones.

While trying to promote the high-quality development of trade, the cabinet also stressed on efforts to ensure national security, internet security, data security, and biological security to foster an amicable business environment for market entities, , a statement released by the State Council said.

Cross-border e-commerce in the country has been expanding much faster than overall foreign trade, and its share in overall foreign trade has gone up significantly.

China’s State Council has approved setting up more cross-border e-commerce pilot zones in 27 cities and regions to stabilise foreign trade and foreign investments. The zones, including those in Erdos in Inner Mongolia and the city of Yangzhou in Jiangsu Province, will replicate and advance the experience learned from the previous five batches of pilot zones.

Since 2015, the State Council has established 105 cross-border e-commerce pilot zones in five batches. The new business model has become a vibrant force driving China’s foreign trade growth, state-controlled media reported.

Official data shows that China’s total trade in goods moved up another notch in 2021, exceeding $6 trillion for the first time.

Fibre2Fashion News Desk (DS)