E-commerce site to offer lower prices in Shanghai FTZ
October 31, 2013 Category Uncategorized
An e-commerce platform is to be launched in the Shanghai free trade zone (FTZ) to allow consumers to buy foreign brands at lower prices. The website, buyeasi.com, operated by payment service provider Easipay and supported by the National Development and Reform Commission (NDRC), is now running on a trial basis pending Customs approval. It is cooperating with usashopcn.com, a purchasing agent for foreign brands. The website will focus on middle and high-end products such as clothing, accessories, infant formula, consumer electronic products, cosmetics and bags. The platform is expected to encourage more foreign brands to open online outlets. Foreign brands will be able to set up bonded warehouses in the zone to reduce tax payments and facilitate transport. The China (Shanghai) Pilot Free Trade Zone was inaugurated on September 29. The zone covers almost 29 square kilometers in the city’s Pudong New Area.
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