East China's Fujian province recently issued the implementation plan for the China (Quanzhou) Cross-Border E-commerce Pilot Zone, including the zone's overall requirements, main construction tasks, and specific measures.

According to the plan, Quanzhou will accelerate the formation through three years of planning and construction of a "closed-loop" cross-border e-commerce ecosystem for industrial chains in sectors including manufacturing, trading, collection, payment, logistics, settlement, and foreign exchange.

Cross-border e-commerce companies in Quanzhou practice for the upcoming online China Import and Export Fair. [Photo/qzwb.com]

It will build three or four demonstration-driven functional parks, and strive to reach a total of 45 billion yuan ($6.29 billion) in cross-border e-commerce imports and exports by 2022.

In order to promote the transformation and upgrading of foreign trade, the city will build a national cross-border e-commerce supply base, support enterprises to build overseas warehouses, and encourage the development of professional supporting services related to the cross-border e-commerce industry, such as livestreaming activities, omnimedia, blockchain, and intelligent platforms.

It will also optimize cross-border e-commerce supervision through methods such as facilitating customs clearance, implementing tax support policies, and supporting innovation in business regulations.

In addition, the city will also establish a multi-level cross-border e-commerce information cooperation mechanism and sharing platform, and a financial service system to provide supporting financial services for cross-border e-commerce enterprises, including financing, insurance, payment, local currency settlements, and foreign exchange settlements and sales.

Meanwhile, Quanzhou comprehensive bonded cross-border e-commerce functional zone will be built to develop cross-border e-commerce online shopping bonded imports and bonded export businesses.