Ministry of Commerce and 6 other departments: Support qualified e-commerce companies to list and raise funds domestically and internationally

News in Brief (Reporter Liu Meng) On April 6, six departments including the Ministry of Commerce issued the “Guiding Opinions on Better Serving the Real Economy and Promoting the High-Quality Development of E-Commerce” (hereinafter referred to as the “Opinions”). The “Opinions” overall coordinates and promotes high-quality e-commerce development with a focus on promotion and regulation, efficiency and fairness, and vitality and order. It proposes 16 measures across five areas to build a framework system for high-quality e-commerce development.

First, we will focus on empowering and improving efficiency, proposing three measures to help small and medium-sized enterprises transform, deepen rural e-commerce, and foster industrial e-commerce, so as to leverage the advantages of e-commerce to help consolidate and strengthen the foundations of the real economy.

Second, we will strengthen innovation leadership, proposing three measures to accelerate the application of technological innovation, vigorously develop quality consumption, and actively build integrated carriers, in order to deepen the integration of online and offline and help achieve a higher level of dynamic balance between supply and demand.

Third, we will promote high-level opening up, proposing four measures to advance cross-border e-commerce, expand the “Silk Road e-commerce” initiative, accelerate opening up in the form of rules-based reform, and promote alignment of rules, to jointly build and share China’s large-scale e-commerce market.

Fourth, we will foster a favorable ecosystem, proposing three measures to compact platform responsibilities, strengthen normalized supervision, and guide compliant overseas expansion, to promote win-win development for all parties in the ecosystem.

Fifth, we will strengthen support and safeguards, proposing three measures to optimize the supply of financial products, unlock the value of data factors, and strengthen precise cultivation of talent, so as to continuously solidify the foundation for e-commerce development.

With regard to strengthening support and safeguards, the “Opinions” proposes that it will leverage the role of industrial investment funds and science and technology innovation mother funds, and encourage financial institutions—on the premise of lawful compliance and risk being controllable—to improve diversified financial service models in line with e-commerce enterprises’ financing needs. It will comprehensively use tools such as loans and equity to provide end-to-end, full lifecycle, diversified, relay-style financial services for innovation in e-commerce business model. It encourages financial institutions to cooperate with e-commerce enterprises and innovate credit products and services. It supports e-commerce enterprises that meet relevant conditions to issue bonds for financing, optimize financing-related policy procedures, and support e-commerce enterprises that meet relevant conditions to raise funds through listing both domestically and abroad.

Around e-commerce enterprises’ overseas expansion, the “Opinions” proposes to develop overseas expansion guidance for e-commerce enterprises. It supports eligible localities to build cross-border e-commerce compliant overseas-expansion service platforms based on overseas integrated service systems, and encourages e-commerce enterprises to register trademarks overseas, apply for patents, and lay out their own trademark-branded brands, to improve their level of compliance.

In addition, the “Opinions” proposes to strongly support cross-border e-commerce overseas warehouses, improve overseas intelligent logistics platforms, innovate the development of digital trade, and support e-commerce enterprises in expanding the export of high-quality digital services. It encourages e-commerce enterprises to build direct procurement bases overseas, expand the import of high-quality and distinctive products, and create an e-commerce “express lane” that brings globally good products into the Chinese market.

The person in charge of the Department of E-commerce of the Ministry of Commerce said that in the next step, the Ministry of Commerce will work with relevant departments to ensure implementation of policies, promote high-quality development of e-commerce, better serve the real economy, empower industries, benefit people’s livelihoods, and reach out to the world—making a greater contribution to building a new development paradigm.

(Editor: Wen Jing)

Keywords:

                                                            E-commerce