Digital technology powers free trade in Hangzhou

December 31 08:38 2020

Hangzhou plans to promote the application of digital technology in the city’s free trade zone, the local government proclaimed at a conference held on Dec 24 centering on the development of the Hangzhou area of the China (Zhejiang) pilot free trade zone.

A digital approach will be adopted to trade, including capital, freight, and personnel.

Hangzhou has been making efforts to facilitate foreign exchange receipts and payment for cross-border e-commerce companies. It aims to build itself into an international hub for global payments with a number of leading third-party platforms such as Lianlian Pay and PingPong, both of which are based in Hangzhou.

The city is also looking to develop its digital logistics infrastructure, especially airports and information services. Smart robots and automated production lines in warehouses are among its attempts to do so.

Furthermore, a project to expand the Hangzhou International Airport was launched about a month ago at a similar conference, which is expected to further increase the airport’s throughput.

Employment restrictions in modern services will also be eased in order to attract more talent from home and abroad. The local government will work with international institutions to grant professional certifications to foreign talent so that they can get to work more quickly.

In addition, China Hangzhou will intensify efforts to optimize its business environment, streamline administrative processes, promote opening-up, and pursue innovation.

These measures, according to local media, are expected to improve the city’s industrial structure, increase the size of its market, lower costs for local enterprises, and lead to the creation of more commodities and jobs.

Media Contact
Company Name: The Information Office of Hangzhou Municipal Government
Contact Person: Cai Jingwen
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Country: China