China: Hangzhou plans FTZ online uptake

Wednesday 5 November 2014 14:35 CET | News

Hangzhou, the capital city of East Chinas Zhejiang Province, will apply to the central government to set up an online free trade zone (FTZ) in a bid to boost cross-border ecommerce, reports.

Tong Guili, a senior official with the citys Party committee, has claimed that Hangzhou will facilitate cross-border ecommerce development with innovative management and service. Hangzhou is one of the five cross-border ecommerce pilot cities approved by Chinas General Administration of Customs in 2012. The city launched a cross-border ecommerce industry park in July 2013.

Chinas cross-border ecommerce retailing industry saw USD 21.4 billion revenue in 2013, with 33.3% year-on-year growth, according to Tong, who said the pilot program is not enough for Hangzhou, reports, cited by the source.

Currently, Hangzhou has introduced 122 cross-border ecommerce enterprises, including the ecommerce website Intime Retail Group, local news portal reports, cited by the source.

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Keywords: China, Hangzhou, FTZ, online sales, digital commerce, cross-border hub, online purchases, overseas shopping
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce