Hangzhou eyes online free trade zone

%3CP%3E%3CFONT%20face%3DVerdana%3EHangzhou%2C%20capital%20city%20of%20East%20China%27s%20Zhejiang%20Province%2C%20will%20apply%20to%20the%20central%20government%20to%20set%20up%20an%20online%20free%20trade%20zone%20in%20a%20bid%20to%20boost%20cross-border%20e-commerce%2C%20a%20Hangzhou%20official%20said%20at%20an%20e-commerce%20expo%2C%20news%20portal%20chinanews.com%20reported%20Saturday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ETong%20Guili%2C%20a%20senior%20official%20with%20the%20city%27s%20Party%20committee%2C%20revealed%20the%20plan%20on%20Friday%20and%20said%20Hangzhou%20will%20facilitate%20cross-border%20e-commerce%20development%20with%20innovative%20management%20and%20service%2C%20the%20report%20said.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EHangzhou%20is%20one%20of%20the%20five%20cross-border%20e-commerce%20pilot%20cities%20approved%20by%20China%27s%20General%20Administration%20of%20Customs%20in%202012.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20city%20launched%20a%20cross-border%20e-commerce%20industry%20park%20in%20July%202013%2C%20media%20reports%20said.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%27s%20cross-border%20e-commerce%20retailing%20industry%20saw%20%2421.4%20billion%20revenue%20in%202013%2C%20with%2033.3%20percent%20year-on-year%20growth%2C%20according%20to%20Tong%2C%20who%20said%20the%20pilot%20program%20is%20not%20enough%20for%20Hangzhou%2C%20chinanews.com%20reported.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ECurrently%2C%20Hangzhou%20has%20introduced%20122%20cross-border%20e-commerce%20enterprises%2C%20including%20some%20famous%20companies%20such%20as%20the%20e-commerce%20website%20of%20Intime%20Retail%20Group%2C%20local%20news%20portal%20hangzhou.com.cn%20reported%20Saturday.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EHangzhou%20has%20a%20prosperous%20e-commerce%20industry%2C%20including%20Alibaba%20Group%20Holding%2C%20the%20Hangzhou-based%20e-commerce%20giant%2C%20so%20it%20has%20sound%20experience%20in%20the%20sector%2C%20and%20the%20local%20government%20has%20provided%20active%20support%2C%20Tang%20Jia%2C%20an%20industry%20analyst%20with%20Beijing-based%20market%20research%20firm%20Analysys%20International%2C%20told%20the%20Global%20Times%20Sunday.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20leading%20e-commerce%20platforms%2C%20such%20as%20Alibaba%27s%20tmall.com%2C%20get%20enough%20user%20visits%2C%20which%20is%20crucial%20for%20e-commerce%2C%20she%20said%2C%20while%20kuajingtong.com%2C%20the%20e-commerce%20retailing%20platform%20of%26nbsp%3B%20China%20%28Shanghai%29%20Pilot%20Free%20Trade%20Zone%20%28FTZ%29%2C%20is%20still%20not%20well-known.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIt%20is%20a%20wise%20plan%20for%20Hangzhou%20to%20seek%20to%20set%20up%20an%20online%20free%20trade%20zone%20since%20it%20has%20no%20port%2C%20which%20is%20essential%20for%20the%20physical%20trade%20business%2C%20Lu%20%26shy%3BZhenwang%2C%20founder%20of%20Shanghai%20Wanqing%20Commerce%20Consulting%2C%20told%20the%20Global%20Times%20Sunday.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EDue%20to%20its%20short%20distance%20from%20Shanghai%2C%20Hangzhou%20has%20to%20find%20a%20way%20to%20differentiate%20itself%20from%20the%20Shanghai%20FTZ%2C%20therefore%2C%20it%20should%20focus%20on%20the%20service%20industry%2C%20for%20instance%2C%20finance%20and%20tourism%2C%20rather%20than%20physical%20trade%2C%20Lu%20noted.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIt%20only%20takes%20one%20and%20a%20half%20hours%20from%20Shanghai%20to%20Hangzhou%20by%20high-speed%20train.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EWith%20a%20preferential%20policy%20for%20a%20free%20trade%20zone%20in%20place%2C%20overseas%20financial%20and%20travel%20services%20can%20be%20made%20available%20to%20Chinese%20consumers%20in%20a%20more%20convenient%20way%2C%20which%20is%20also%20in%20accordance%20with%20Alibaba%27s%20efforts%20in%20providing%20online%20finance%20and%20online%20tourism%20services%2C%20said%20Lu.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAlibaba%20just%20announced%20on%20October%2028%20its%20new%20online%20business%20brand%20Alitrip%2C%20which%20will%20focus%20on%20ticket%20booking%20and%20auto%20rental.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EOn%20October%2016%2C%20Alibaba%20officially%20spun%20off%20its%20financial%20arm%20Ant%20Financial%20as%20one%20of%20its%20subsidiaries%2C%20signaling%20Alibaba%27s%20ambition%20to%20expand%20its%20financial%20landscape.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28Global%20Times%29%3CBR%3E%3C/FONT%3E%3C/P%3E