Want China Times, Xinhua 2015-05-17
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| The homepage of Taobao.com, one of the leading e-commerce platforms in China. (Internet photo) |
China is
aiming to almost double the value of its e-commerce sector in two years by
tapping in rural, small city and foreign markets, under an action plan
published by the Ministry of Commerce on Friday.
The
ministry promised measures to help e-commerce businesses make further forays
into these relatively unexplored markets, as well as encouragement of
cross-border trade through better coordination between online platforms and
brick-and-mortar stores.
With these
measures, the ministry predicted the country's 2016 e-commerce transactions
will hit 22 trillion yuan (US$3.6 trillion), almost double the 13.4 trillion
yuan (US$2.16 trillion) recorded for 2014.
The
ministry is also aiming to lift the annual value of online retail sales,
referring specifically to those through third-party online marketplaces like
Taobao, to 5.5 trillion yuan (US$885 billion) in 2016. The figure would also
nearly double the 2.8 trillion yuan (US$450 billion) recorded in 2014.
To achieve
these goals, the ministry said it would first "nurture 200 counties to
lead e-commerce development in rural regions" by encouraging them to sell
farm produce online. It will also support e-commerce companies to establish
bases and sales channels in the countryside.
The
ministry also plans to set up 60 national e-commerce demonstration parks and
establish 150 "e-commerce companies with strong competitiveness,"
meaning larger firms demonstrating best practice.
According
to the plan, it will also place equal emphasis on development of logistics
firms, and work with other government departments to improve infrastructure and
distribution networks in order to facilitate the e-commerce sector's expansion.
"The
action plan is important for optimizing production, expanding employment and
improving people's lives," according to a statement on the ministry's
website.
The plan
falls under the "Internet Plus" strategy championed by the central
government, which is trying to give new impetus to the slowing economy by
integrating the Internet with traditional industries.
The new
action plan is concerned with making online shopping more convenient for
consumers in small cities, with the ministry saying it will support the
establishment of localized e-commerce platforms to compete with existing
companies.
Meanwhile,
it is aiming to help the e-commerce sector explore value-added services such as
parcel keeping and bill payment to benefit residents of large cities.
Physical
stores, including retailers, restaurants, launderettes, appliance repair shops
and ticket sellers are encouraged to use the internet to offer diversified
services such as online orders and delivery.
The
ministry said it would also encourage domestic e-commerce companies to
establish storage facilities outside China.
The State
Council, the cabinet, said last month it would smooth the way for e-commerce to
grow by abandoning rigid registry requirements on e-commerce businesses,
encouraging venture capital to enter the sector and reducing share-holding
restrictions on foreign investment.
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