Hangzhou switches on to digital economy
  • Vote Up0Vote Down venynxvenynx
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    Hangzhou switches on to digital economy

    In an effort to upgrade
    its industrial structure, the Hangzhou government is to accelerate
    development of the digital economy, switching from traditional trade
    markets to global online retailing and the self-owned brand market.To
    get more hangzhou news, you can visit shine news official website.

    At
    the 4th Cross-Border E-commerce Summit at the Baima Lake Expo Center
    last week, the city government announced the creation of a “Silk Road”
    in cyberspace and expanding digital business via invisible Internet
    routes to realize that upgrading plan.

    Since President Xi Jinping
    proposed the Silk Road Economic Belt and the 21st Century Maritime Silk
    Road initiatives in 2013, China and countries along the ancient routes
    have launched a series of cooperative e-commerce projects.The summit
    attracted industrial insiders and enterprises from home and abroad,
    hoping to serve cooperative projects more effectively.

    Smart
    Africa, an organization sharing technology and expertise established
    under the initiative of African countries, is seeking investment from
    Hangzhou.“The digital economy is upgrading the industrial structure in
    Africa. Alibaba Group has already reached cooperation with Rwanda,” said
    Didier Nkurikiyimfura, department director of Smart Africa. “I invite
    more Hangzhou companies to invest there and cooperate with Belt and Road
    countries, solving economic problems for Africa.”

    Last year,
    Alibaba’s Jack Ma announced the construction an electronic world trade
    platform (eWTP) in Rwanda. The multilateral international collaboration
    platform aims to formulate new rules for international e-commerce, to
    benefit developing countries and to make easy “global sell” and “global
    buy” with the platform.

    In addition, eWTP is also trying to
    promote best practices of Hangzhou’s cross-border e-commerce industry to
    other parts of the world, especially in Belt and Road countries, in the
    hope of re-connecting the ancient Silk Road with electronic businesses.

    During
    the summit, the China (Hangzhou) Cross-Border E-commerce Pilot Zone
    signed a strategic cooperation agreement with Shopee, a leading
    Southeast Asian e-commerce platform.

    In the future, Shopee will
    set up an operational center and a logistics center in Xiaoshan
    District.Both sides are looking forward to cementing cooperation in
    regional infrastructure, talent development and industrial clusters.

    The
    partnership will serve as a gateway for Hangzhou enterprises to tap
    into the Southeast Asian market, as well as countries involved in the
    Belt and Road Initiative, aiming to promoting Hangzhou brands overseas.

    In
    recent years, the focus of the cross-border e-commerce industry has
    switched from policy innovations and infrastructure development to
    building own brands for small and medium sized companies.During the
    summit, industry insiders and corporate big hitters from home and abroad
    weighed in on this topic.

    “In a further move to bolster business,
    companies should build their own brand. That is the key to future
    development,” said eBay manager Lin Wenkui. “We have invested a lot of
    money and resources to help sellers on eBay promote local brands and
    export products overseas.”

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