The State Council recently approved the establishment of comprehensive pilot zones for cross-border e-commerce in 15 cities and regions, including Shaoyang City of Hunan Province. This is China's another significant initiative in promoting foreign trade innovation and development.

As the cradle and a powerhouse of private economy in Hunan Province, Shaoyang has pioneered development of private sector. For example, it has cultivated China's first small commodity market, Hunan's first private enterprise, Hunan's first private economy development zone, and China's first pilot county for private economy. There are more than one million Shaoyang entrepreneurs doing business around the world, with their total assets reaching 4 trillion CNY.

According to the approval, each comprehensive pilot zone will be officially named "China (City/Region) Cross-border E-commerce Comprehensive Pilot Zone." Specific implementation plans will be formulated and carried out by local provincial governments. Multiple support, including policy incentives, funding, platform resources, and tax benefits, will be provided for the cities and regions with approved pilot zones, to foster a cross-border e-commerce ecosystem characterized by "domestic-international collaboration, online-offline integration, and industrial chain synergy."

Since Hangzhou was approved as the first national-level cross-border e-commerce comprehensive pilot zone in 2015, China has expanded the number of such pilot zones several times. To date, over 160 cross-border e-commerce comprehensive pilot zones have been approved nationwide, covering all provinces and regions except Hong Kong, Macao, and Taiwan. Cross-border e-commerce has emerged as a critical engine for stabilizing foreign trade, stimulating consumption, and sustaining employment.

This article is from Hunan Provincial Government. www.enghunan.gov.cn.

Translator: Pang Yuehui

Chinese source: hunan.gov.cn