Fujian FTZ, Alibaba to deepen import business cooperation

( chinadaily.com.cn )

Updated: 2015-06-25

The Fujian Free Trade Zone (FTZ) is to play an important role in Chinese e-commerce giant Alibaba’s import business, Southeast Express reported.

Alibaba said it is working with all of China’s FTZs (Fujian, Guangdong, Tianjin and Shanghai) and many bonded zones to introduce more overseas commodities.

The move comes after Alibaba reached agreements with 20 embassies in China to establish a collaborative mechanism so that "more overseas startups and large enterprises can sell products on Alibaba's platforms" said Zhang Jianfeng, head of the company's online marketplaces.

The United States, Canada, the United Kingdom and Australia are among 20 nations to join Alibaba's initiative.

"The growing middle-class in China and the shopping population will help the e-commerce sector maintain a 50 percent annual growth in coming years," Zhang said. "Also the growing appetite for foreign-made products will provide a unique opportunity for overseas firms".

Most products on the company's retail sites, juhuasuan.com and Tmall.com, will be food.

Favorable policies and new measures encouraging overseas e-commerce at FTZs will help cut costs for importers, who can stock up at the FTZ and send them to customers at the same time, according to an Alibaba official.