The Chinese government is to bring in new e-commerce measures after the country posted its largest decline in traditional exports in June of this year, according to usa.chinadaily.com.cn.
It has been claimed that the country’s Ministry of Commerce is currently drafting detailed policies, which it hopes will bring “a big boost” to Chinese exports. It is thought that these policies, which will be likely to boost the number of online payment transactions on Chinese websites, will come into effect later this year.
It comes after it was reported in June that Chinese exports contracted 3.1 per cent year-on-year. This was the first monthly decrease to be reported in the country since January 2012 and was the biggest decline since the 2009 recession, according to the General Administration of Customs.
Talking about the situation, a source from China’s foreign trade department, told zdnet.com: “Promoting outbound shipments through the internet is becoming an increasingly important task for Chinese exporters and manufacturers.”
They continued: “The measures and commitments are very important for Chinese exports. There are more in the pipeline, mainly about e-commerce,” said the source.
The changes are said to improve the efficiency of Chinese e-commerce platforms to make them more convenient, to reduce costs and to enlarge the overseas networks of Chinese firms. Issues that are set to be tackled include foreign exchange, customs clearance and taxes and inspections.