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Large Medium SmallThe Ministry of Commerce released a policy on Thursday that will take measures to improve cross-border, e-commerce retail and export.
The new policy will take effect on Oct 1 and aims to promote growth in cross-border e-commerce at a time when e-commerce in the nation has outgrown existing regulations.
Cities including Shanghai, Chongqing, Hangzhou, Ningbo and Zhengzhou, which have already started pilot programs in cross-border, e-commerce clearance, will be the first to implement the ministry's new policy.
The policy defines outbound e-commerce governing bodies, requests a new method of supervising customs and specific statistics, supports regular earnings announcements by companies and encourages banks and other payment institutions to provide payment services and tax policies. It also asks for a credit system in e-commerce exports.
E-commerce companies will still follow the existing regulations on clearance when conducting exports. Policies on import business will be evaluated in the future.
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