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Hangzhou city to establish pilot area for eWTP building

ezhejiang.gov.cn| Updated: October 30, 2017 L M S

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The Hangzhou government and Alibaba Group announce their cooperation in building a pilot area for eWTP building on Oct 26. [Photo/China-blue News]

The Hangzhou government and the e-commerce giant Alibaba announced to establish a pilot zone in Hangzhou, Zhejiang province on Oct 26 to develop the Electronic World Trade Platform (eWTP) initiative.

The eWTP, proposed by Alibaba's chairman Jack Ma in March of 2016, is regarded as an international cooperation mechanism with an objective to reduce barriers and make it more convenient for small and medium-sized enterprises to expand their trading capabilities worldwide.

Led by the private sector and supported by governments, the global e-trading platform aims to create a fertile soil for the development of the internet economy and the e-commerce. "The essence of the eWTP is to form a 'Chinese solution' on the innovation of cross-border e-commerce and promote it to the world," said Daniel Zhang, CEO of Alibaba Group at the 2nd Global Cross-border E-commerce Summit on Oct 26.

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Daniel Zhang, CEO of Alibaba Group delivers a speech on the eWTP initiative at the 2nd Global Cross-border E-commerce Summit in Hangzhou on Oct 26. [Photo provided to ezhejiang.gov.cn]

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