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China plans more cross-border e-commerce zones

Xinhua, January 6, 2016 Adjust font size:

China will set up more cross-border e-commerce pilot zones, the State Council announced Wednesday.

The zones will attract businesses, help create jobs and nurture new business models to boost foreign trade and stimulate the economy, according to a statement released after an executive meeting of the council chaired by Premier Li Keqiang.

They will be built in cities in China's east, center and west that have good infrastructure and a good trade and e-commerce base.

The move follows the approval of the Hangzhou cross-border e-commerce pilot zone in March last year, which is based on open information sharing between businesses, financial institutions and regulators, one-stop online financial services, smart logistics and open e-commerce credit systems.

Efficient services will help businesses cut costs, said the statement.

Following its inspections last year, the State Council cited 50 provincial regions, cities, districts and counties for good work in shantytown renovation and other major projects and promised them policy support and funding.

However, it also said more than 900 officials have been punished for inaction found in the inspections. Endi