China to unveil policies to spur e-commerce trade

The Chinese government is drafting policies on cross-border e-commerce to help them enlarge firms overseas network and reduce costs, after country experiences largest decline in traditional experts in June.


China plans to promote greater growth in cross-border e-commerce after posting its largest decline in traditional exports in June this year. 

According to China Daily on Tuesday, citing an anonymous source from the Ministry of Commerce, the ministry is currently "drafting detailed policies" which will probably take effect later this year, while the measures would give "a big boost" to Chinese exports.

June's traditional exports posted the largest decline since the 2009 global downturn, contracting 3.1 percent year-on-year, its first monthly decrease since January 2012 and biggest decline since the 2009 recession, according to statistics from the country's General Administration of Customs.

"Promoting outbound shipments through the Internet is becoming an increasingly important task for Chinese exporters and manufacturers," the office, who was from China's foreign trade department said.

The measures taken for the government are very important for Chinese exports, and there are more in the pipeline mainly about e-commerce, the source added.

They aim to provide convenient and efficient e-commerce platforms for exports and to help them enlarge their overseas network and reduce costs, and they cover a wide range of issues concerning customs clearance, foreign exchange, taxes and inspections, the source added.

The Chinese government has also made other efforts to promote e-commerce trade. In July, an e-commerce industrial park, covering 40,000 square meters, aim to facilitate cross-border trade opened in Hangzhou, in China's Zhejiang province, the report noted.

Within the country, China in March said it is prompting calls for tighter regulations on e-commerce as online shopping sites rarely file taxes . E -commerce is widely popular within the country due to consumer demand and Internet access outpacing the prescence of phsyical retail stores.