Shanghai establishes Silk Road e-commerce pilot zone

China’s city of Shanghai is establishing a “Silk Road” e-commerce pilot zone, which will feature a digital technology application centre and an international board for data trading. The aim of this initiative is to enhance trade connectivity, facilitate cross-border e-commerce, and promote digital trade. Shanghai has released a plan with the goals to be achieved by 2025.

The plan includes gathering internationally competitive e-commerce entities, establishing regionally distinctive carriers, and building public service platforms. The establishment of the pilot zone is seen as a crucial step in building an open economy and supporting Shanghai’s international cooperation under the Belt and Road Initiative.

The plan also proposes the establishment of a data trading registration service system and an international board for data trading. It emphasizes the importance of technologies such as cloud computing, blockchain, big data, the Internet of Things, and digital twinning. Initiatives include creating an international think tank alliance, exploring the application of digital technologies, and enhancing the overall service system through pilot initiatives such as the establishment of cross-border e-commerce service platforms and overseas investment service platforms.

The city has already made significant progress in e-commerce with national and municipal-level demonstration bases and cross-border e-commerce demonstration zones. It has also demonstrated strength in logistics services and cross-border payment and settlement.

Why does it matter?
The establishment of the pilot zone is expected to create more opportunities for collaboration, foster an open and fair trade environment, and support Shanghai’s position as a pivotal economic center.