E-commerce solutions win approval

Premier calls new business models of 'vital importance' amid world pandemic

China will set up 46 new integrated pilot zones for cross-border e-commerce, and will hold the Canton Fair online to keep foreign trade and investment broadly stable despite the impact of the COVID-19 outbreak. The decisions were made at the State Council's executive meeting chaired by Premier Li Keqiang on Tuesday.

"Tackling the economic impact of the outbreak abroad is a pressing task. With the tight containment measures introduced across countries, foreign trade and investment is persistently going downward," Li said.

The meeting decided to set up the additional e-commerce zones on top of 59 existing ones. The zones, in combination with practices to boost commerce, will provide firms located there with supportive policies like exemption of value added and excise taxes on retail exports.