A view of Ningbo, East China's Zhejiang province. [Photo/WeChat account: nbfb0574]

Ningbo in East China's Zhejiang province recently rolled out a guideline to bolster the high-quality development of cross-border e-commerce.

According to the guideline, the city will embrace the nation's "dual-circulation" development pattern and underscore the role of cross-border e-commerce in the city's foreign trade with the ultimate goal of building itself into a national model city for cross-border e-commerce.

Efforts will be made by authorities to enhance areas such as business and platform cultivation, warehousing construction, financial support, talent training and policy optimization. 

In terms of business cultivation, Ningbo will support various kinds of entities from the city to engage in cross-border e-commerce and mobilize traditional foreign trade companies to seek digital transformation.

Incentives will also be put in place to encourage local enterprises to develop B2C (business to customer) and B2B (business to business) business models and introduce leading cross-border e-commerce companies to the city.

As for warehousing construction, local government will incentivize enterprises to ramp up the construction of domestic bonded warehouses and warehouses overseas so as to secure a warehousing edge in markets around the world.

Ningbo is leading the nation in the establishment of overseas warehouses. As of the end of 2020, more than 60 businesses from the city had built more than 200 overseas warehouses spanning more than 2 million square meters in 20 countries and regions. The number of warehouses and their total area accounted for about 11.1 percent and 16.7 percent of the country's total respectively.