E-commerce park opens in Zhejiang

A cross-border e-commerce industrial park was opened on Monday in a bid to boost online foreign trade and speed up delivery.

The park, in Hangzhou, Zhejiang province, sent bags, clothing and other e-commerce items on its first day to Ukraine, Denmark and Spain.

Only a few of the 5 million small and medium foreign trade enterprises in China have started cross-border e-commerce business.

Companies in the park enjoy tax rebates and other preferential policies and will enjoy less paperwork for overseas orders.

Leading e-commerce companies, like eBay and Alibaba, as well as many logistic companies, have set up operations.

In 2012, cross-border e-commerce trading was worth 2 trillion yuan ($326 billion), an increase of 25 percent year-on-year.