China creates cross-border e-commerce industrial park to help e-commerce merchants

China (Jul 11, 2013): A cross-border e-commerce industrial park was opened in Hangzhou of China on Monday, in a bid to boost online foreign trade and speed up delivery, the China Daily reported. eBay, Alibaba and other leading e-commerce companies as well as logistic company have set up their operations in the park, entitling them to enjoy tax rebates and other preferential policies and will enjoy less paperwork for overseas orders.

According to the report, the cross-border e-commerce trading was worth 2 trillion yuan (RM1.04 trillion) last year, an increase of 25 per cent year-on-year.