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Ningbo Launches Cross-border E-commerce Pilot Zone

Construction of the Ningbo Cross-border E-commerce Pilot Zone kicked off on 11 May. Setting aside from Hangzhou which is the first comprehensive pilot for cross-border e-commerce, the Ningbo zone will focus on the development of cross-border exports. 

By 2018, Ningbo will develop 20 cross-border e-commerce foreign trade industrial bases, 30 cross-border e-commerce comprehensive service platforms and 50 cross-border e-commerce offshore warehouses; annual turnover of cross-border e-commerce is projected to be more than US$15 billion, of which exports will be worth about US$13 billion and imports US$2 billion. Cross-border e-commerce is expected to account for 15% of total trade in Ningbo that year.

Deputy Secretary-General of the Ningbo Municipal Government Zhang Yan said that Ningbo enjoyed advantages in its ports, with the Ningbo-Zhoushan port said to be the busiest in the world. Moreover, foreign trade is another major advantage of Ningbo, with foreign trade import and export volume exceeding US$100 billion for three years in a row, ranking first in Zhejiang province and in the forefront of the country, which serves as a very strong independent foreign trade and industrial base for Ningbo to engage in cross-border e-commerce with key development in cross-border exports.

Ningbo Cross-border E-commerce Pilot Zone will create a cross-border comprehensive information platform integrating "single window", business information and logistics information, connecting with various business information and logistics information platforms.

Four major service systems will be created in the Ningbo zone in business flow, logistics, capital flow and credit rating based on transactions, which will form a complete cross-border e-commerce business chain alongside with cross-border integrated information platforms. Also, five protection systems will be built in "information sharing, financial innovation, personnel training, business incubation and risk control".

According to officials of ports of Ningbo and office of anti-smuggling, the primary innovation of the pilot zone is cross-border e-commerce business model innovation, especially in offshore warehouse stocking pattern. Offshore warehouse conceptually refers to the building of logistics systems abroad through offshore warehouse by e-commerce platforms and export enterprises. Enterprises are directed to ship products to offshore warehouses in advance to facilitate order fulfilment and delivery through overseas sales channels.

Content provided by Picture: HKTDC Research
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