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Databank plan serves as vibrant growth catalyst in metropolis' pilot area

By Yuan Shenggao (China Daily) Updated : 2018-12-10

Home city to e-commerce giant Alibaba, Hangzhou recorded 5.62 million business-to-customs cross-border import transactions on Nov 11 alone - the so-called "singles' day" that marks the peak online shopping period in the year in China - an increase of 63. 3 percent from the year before, according to local statistics.

Online cross-border exports have also seen a significant increase, officials said.

Total online cross-border transactions in Hangzhou surged 12 percent year-on-year to roughly $8.1 billion from January to September this year, of which exports accounted for $5.8 billion yuan, up 14.1 percent from the previous year, according to local customs figures.

Just a month ago, Hangzhou-based e-commerce companies demonstrated their commercial prowess at the first China International Import Expo in Shanghai.

Alibaba CEO Zhang Yong announced a massive imports plan during the expo, for total imports through its e-commerce platforms to reach at least $200 billion over the next five years.

Elsewhere, Zhang Lei, CEO of NetEase Kaola - a leading Chinese cross-border portal funded by internet company NetEase - said his company has signed procurement agreements with more than 110 companies worth about 20 billion yuan ($2.9 billion).

In addition Yunji, also a leading crossborder portal based in Hangzhou, said it has signed cross-border procurement deals with several brands, including Nestle and Nittaya, worth 5 billion yuan.

"Because of the application of digital technology, an historic revolution has taken place in traditional commerce, which could make buying and selling globally much faster, better and more convenient," said Zhou Jiangyong, Party chief of Hangzhou.

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