Yiwu eWTP Global Innovation Center

Post Time: 2019-06-27

  On the afternoon of June 19, Yiwu Municipal People’s Government and Alibaba Group signed an eWTP (Electronic World Trade Platform) strategic cooperation agreement at Yourworld International Conference Center. The online and offline markets will hence better cooperate on the international trade rules, business incubation innovation, eWTP service network, smart logistics network construction, financial services innovation, cloud computing, big data, digital economy, and other important areas. It will start from the Belt and Road Initiative and work to meet the need of a high-quality open economy as well as promote digital trade rule innovation and build a digital silk road.

  The signing ceremony was conducted by Zhang Yong, the CEO of Alibaba Group; Lin Yi, Jinhua Municipal Party Committee Standing Committee Member and Yiwu Municipal Party Committee Secretary; and Wang Jian, Yiwu Mayor. Xu Gaochun, inspector from the provincial Department of Commerce, and Tian Deming, deputy director of Hangzhou Customs, witnessed the signing. Tian represented the provincial government and made a speech. Other leaders of Yiwu also attended.

  Zhang, who also made a speech, praised Yiwu. There are nearly 80,000 merchants in Yiwu who are connected with more than two million factories. This environment attracts purchasers from over 200 countries around the world. All of these elements make a business ecology in Yiwu. Currently, millions of merchants use the platform from Alibaba, as well as hundreds of millions of consumers and global service providers, all contributing to a digital economy involving business, finance, logistics, cloud computing, and big data. The signing of the contract creates a connection between the online and offline ecologies. Hopefully, this will lead the development of global trade in the future and promote global trade. He said Alibaba is willing to work with Yiwu to make trade more convenient and inclusive, making Yiwu the world capital of small commodities.

  According to the agreement, Alibaba and Yiwu will jointly establish the eWTP Global Innovation Center in Yiwu, implement the eWTP commercialization project, develop the eWTP service network, promote the innovation trade model of Yiwu, and establish a set of eWTP standardization rules system that are globally applicable. In addition, with the comprehensive reform in Yiwu, the two parties will jointly develop new trade finance, set up an eWTP development fund, innovate an import trade method, construct an import supply chain system, drive the integration of the digital and physical economy, incubate smart logistic hubs, improve cooperation on health, recreation, education, sports, and traveling as well as develop a digitized government and smart city.

  The eWTP was first proposed by Jack Ma at Boao Forum for Asia and was included in the summit report at G20 Hangzhou. The eWTP focuses on trade, technology, traveling, and training domains. Its ultimate goal is to realize a trade environment with more freedom that benefits more people, which helps people “buy globally,” “sell globally,” “pay globally,” “transport globally,” and “travel globally,” and meanwhile encourages enterprise in young people, women, small businesses and micro-businesses. (By Gong Yan – Yiwu Shangbao, translated by Lin Yuqin, edited by Mariam Ayad)