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October 8, 2013

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Home » Business » Finance

Free trade zone trial for e-commerce site

An e-commerce platform is to be launched in the Shanghai free trade zone to allow consumers from China’s mainland to buy foreign brands at lower prices.

The website, buyeasi.com, operated by payment service provider Easipay and supported by the National Development and Reform Commission, is now running on a trial basis pending Customs approval, Xinmin Evening News reported yesterday.

The platform aims to meet an increasing demand for imported goods, to ensure their authenticity, and facilitate Customs and quarantine procedures, authorities said. It is also cooperating with usashopcn.com, a purchasing agent for foreign brands.

Wang Peng, general manager of Easipay, told Xinmin the website will focus on middle and high-end products such as clothing, accessories, infant formula, consumer electronic products, cosmetics and bags.

Wang said prices will be lower than boutique stores on the mainland, and all sellers will be registered with Customs to guarantee quality. Product prices, tariffs and delivery fees will be listed separately for each product to ensure transparency.

The platform is expected to encourage more foreign brands to open online outlets. Foreign brands will be able to set up a bonded warehouse in the zone to reduce tax payments and facilitate transport.

The free trade zone was inaugurated on September 29, a major milestone underscoring the country’s commitment to push ahead with reform and opening up.

The zone, officially the China (Shanghai) Pilot Free Trade Zone, is seen as a key reform in rejuvenating the nation’s economy as China strives to move toward growth that relies more on domestic demand than exports and investments.

A total of 36 companies have been given licenses to operate in the free trade zone, which covers almost 29 square kilometers in the city’s Pudong New Area.

 


 

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