10). Scaling up financial support

The municipality’s funds allocated to support strategic emerging industries, foreign trade, international cooperation and service sector should be utilized in the construction of the public service platform for cross border e-commerce, in the training for professional talents, in the expansion into global markets, in the establishment of international marketing network and in the construction of overseas warehousing system.

The promotion of model enterprises and construction of demonstration industrial parks should be prioritized as recipients of such financial support. Businesses operating in cross border e-commerce that are recognized as high-tech enterprises are entitled to an array of favorable polices. There should also be favorable tax policies available for small and micro-sized businesses.

A diversity of financing means should be fostered to facilitate the growth of cross border e-commerce businesses. Local governments should encourage financial institutions to offer supply chain finance and factoring service to help cross border e-commerce companies to better risk control.

The financial institutions should be advised to strengthen cooperation with e-commerce platforms and innovate their online financing and guarantee businesses to suit the development of cross border e-commerce businesses. Local governments should offer advice for financial institutions to provide unsecured loans and credit insurance policies.

Venture capitals should be guided to support the startups in cross border e-commerce, while promising cross border e-commerce companies should be pointed to the way to go public.

11). Channeling more resources to research efforts and cultivating more talents

Local governments within Shanghai municipality’s jurisdiction should explore in depth policies and regulations that will ensure the healthy development of cross border e-commerce, as well as international general practices.

Local governments should encourage companies, organizations, and universities to set up research facilities to provide theoretical and intellectual support to the innovations to take place within cross border e-commerce sector.