Now China will put its economy back on track by increasing e-commerce Market
After paying tribute to the martyrs of Corona, China is now looking to find an effective way to put its economy back on track by ending this black chapter. In order to reinvigorate foreign trade and investment, China has decided to create 46 new integrated pilot zones to further improve cross-border e-commerce. He is now going to give a big boost to the online market and business too. The decision has been taken in a meeting of the State Council led by Chinese Premier Li Qing.
The four months of a terrible crisis caused by COVID-19 and the economic condition of all the countries including China have peaked. The meeting also discussed the damage to the economy and its far-reaching effects in these four months and it was decided that in the current situation there could be no better option than further enhancing e-commerce.
Especially when all the countries of the world are in a state of lockdown due to the Corona crisis and the effect of which has started to appear worse in the economy, trade, and investment, in such a way, e-commerce avenues for trade and investment with outside countries Be made easier. For this, the new Integrated Pilot Jones will be created, which will increase the trade from across the border.
E-commerce business is a big market:
Significantly, in 2019, China's cross-border e-commerce trade had reached 186.21 billion yuan or 26.25 billion dollars. China already has 59 integrated centers for the convenience of e-commerce business, besides opening 46 such new centers will now work faster in this direction. These integrated centers have proved to be very effective in promoting retail trade and at such a time the need for it is being felt. Due to this, traders will get relief in value-added and consumption tax. All companies are supporting China's initiative to jointly offer their goods online.
It was decided at the meeting to waive the tax so far due to e-commerce merchants later this year and help in removing all the hurdles in the business. To boost the domestic market and to encourage trade, the 127th China Import Export Fair to be held online in June. In this fair, merchants from all over the world including China will be invited to display their products online. Through this model of online trade, merchants will be able to extend their business round the clock and enjoy all the facilities ranging from contracting between countries, taking orders, making online payments.
Apparently, China has now adopted this trade route to rescue itself from the terrible tragedy of COVID-19 and once again to establish itself in the world market and keep all the countries connected with it. It remains to be seen how many countries of the world open the way to get their economy back on track by freeing themselves from the threat of Corona and what steps are taken to overcome the situation of the severe crisis faced by the traders.
