BEIJING - The State Council has approved the setup of the China (Hangzhou) cross-border e-commerce pilot zone in Hangzhou, capital of East China's Zhejiang province.
The application was put forward by the Zhejiang provincial government and the Ministry ofCommerce, according to a statement on the Chinese government's website on Thursday.
The zone will take the lead in setting standards on cross-border e-commerce transactions,payment, logistics, customs clearance, tax refund and exchange settlement, said the statement.
It will work to settle deep problems in cross-border e-commerce, build complete industrial chainsand provide experience that can be used by the sector across the country, according to thestatement.
China's cross-border e-commerce has been developing rapidly to become a key channel forinnovation. Boosting cross-border e-commerce will help create jobs, expand the market andbring new energy to the Chinese economy, according to the statement.
Hangzhou is home to China's leading e-commerce company Alibaba.
Release date:2015-03-13 Browse number:115