2016 marked the opening year of the 13th Five-Year Plan of China’s e-commerce, while 2017 is the year when intensive efforts are required for the development of e-commerce industry. On the E-Commerce Conference during the 2017 Fair, Yang Yiwen, vice director of the standing committee of Beijing’s NPC, pointed out that e-commerce, as in vital part of the new economy, facilitated the transformation and upgrading of traditional business model as well as innovation and reform of domestic & foreign trade through deep integration with the real economy, restructuring the business layout. 2017 is a critical year for the implementation of the 13th Five-Year Plan and building a harmonious and livable place of international top standards, and the core of new positioning, goals and tasks is to build such a place, which includes providing high-quality service and high-level security, which generates new opportunities and stage for the development of e-commerce.
Yang Wenyi said, reviewing the development process of e-commerce, it’s found that e-commerce had become a new engine for the economic development. In recent years, pattern innovation is continuously promoted in commercial circulation to fuel consumption development and the fundamental impact posed by e-commerce on consumption continues to be enhanced. Beijing took the lead in forming a consumer-led economy in China and e-commerce, as a major driving force of consumption, has made a great contribution to the economy. According to the statistics of Beijing, its consumption contributed more than 60% to the GDP, among which e-commerce contributed more than 80% of the consumption, namely, about 50% of the GDP increment was driven by e-commerce.
At present, China has secured the top position in the online retailing market for many years, and hot business modes like rural e-commerce, cross-border e-commerce and social electronic sports continue to emerge. E-commerce is becoming more prominent as a force driving the economic development and social transforming of China. However, we can also notice that China’s e-commerce is also confronted with some new change and challenges while making breakthroughs in all directions. China’s e-commerce is now at a critical transitory stage for a new round of development.
Hamid Mamdouh, Director of Trade in Services Division of WTO, pointed out that, e-commerce was playing an increasingly more important role in global development and it brought development opportunities for small and medium-sized enterprises in that it can lower the companies’ cost of operation and transportation as well as the development cost for the whole society. Nevertheless, with more opportunities, we cannot ignore the challenges, especially challenges related to supervision.
The development of market entails a good balance between market opening up and the challenges of safety and supervision. An open market represents more sufficient competition and more abundant resources, but compromises on cyber security and protecting consumer’s privacy cannot be allowed in the pursuit of opening up. China acts as a very critical role in the global arena, and important contributions have been made by the Chinese government, academic circle and institutes for the development of e-commerce.