Commerce Ministry's rules to support online retail

The Ministry of Commerce released a policy on Thursday to improve cross-border outbound e-commerce. The new policy will take effect on Oct 1. Cities including Shanghai, Chongqing, Hangzhou, Ningbo and Zhengzhou, which have already started pilot programs for cross-border e-commerce clearance, will be the first to implement the new policy. The policy defines outbound e-commerce governing bodies, sets a new method of supervising customs and specific statistics, supports regular earnings announcements by companies, and encourages banks and other payment institutions to provide payment services.

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