China relaxes ecommerce rules and allows full foreign ownership of firms
In a move that seeks to boost cross-border trade with the rest of the world, China has relaxed its rules about payments and the ownership of firms.
According to Reuters: “Chinese ecommerce firms will be given state support on international projects while credit insurance services will also be introduced. Customs will streamline clearance of goods and quality supervision agencies will allow collective declaration, examination and release of goods. There will be tax sweeteners on ecommerce retail exports and settlement of payments in yuan will be promoted.”
Search Engine Land has posted its view on how these changes can be of interest to European and American ecommerce businesses and considers the changes to have opened up: “The Great Chinese ecommerce Gold Rush”
Who knows? China is a market of more than one billion people with an increasingly wealthy middle class that have money to spend, internet access and a fondness for western goods. China is certainly, no more, just to be considered a nation that supplies ecommerce sellers from its massive manufacturing base. China now buys online.
But it will be alarming to some sellers. What do you reckon?