Yiwu and Alibaba Sign eWTP

Post Time: 2019-07-05

        On June 19, Yiwu Municipal People’s Government and Alibaba Group signed an eWTP (Electronic World Trade Platform) strategic cooperation agreement, and the talk between Zhang Yong, the CEO of Alibaba Group, and market dealer Huang Xianping became a hot topic online the same day.

        The establishment of WTP Global Innovation Center in Yiwu shows movement toward the world’s biggest offline small commodities market and the world’s biggest trade market jointly establishing a set of trade rules together with small and micro businesses. The two sides will fully support the development of the eWTP Global Innovation Center and conduct in-depth cooperation on the fields of international trade innovation, the network construction of eWTP services and smart logistics, financial service innovation, and the digital economy, involving Cloud computing and big data. 

        Based on the Belt and Road Initiative and meeting the need of a high-quality open economy, the parties will promote digital trade rule innovation as well as build a digital Silk Road.

        Currently, there are over half a million such innovative groups wherein the government takes the risks and the enterprises participate. The establishment of eWTP will contribute greatly to the development of small and micro businesses. (By Wang Ting, translated by Zhang Jiajia, edited by Kendra Fiddler)