The Bank of China (BoC) and the United Kingdom Trade and Investment department have jointly released a China-UK cross-border e-commerce white paper at the London branch of the Bank of China on March 23rd.
Jointly prepared by the two entities, the white paper aims to provide an informative background to assist British enterprises who intend to cooperate in cross-border e-commerce ventures with Chinese corporations, according to China Daily.
The white paper features an overview of Chinese national policies and guidelines, relevant BoC products and services, as well as an explanation on the importance of the Chinese pilot cities project in cross-border e-commerce. It also outlines the benefits that can be gained by adopting a structured approach towards an entry into the e-commerce market.
The document also represents BoC’s commitment to further promote the China-UK financial and trade cooperation, said Xu Luode, executive vice-president of BoC.
BoC has also developed and introduced specific products designed to support e-commerce ventures, such as yuan-denominated e-express products and services in accordance with the financial requirements of British businesses, enabling the rapid and scalable development of cross-border e-commerce.