Chinese Govt Launches Official Online Trading Portal
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China International Electronic Commerce (CIEC), the Internet arm of the Chinese Ministry of Trade and Economic Cooperation (MOFTEC), unveiled a portal Monday aimed at taking Chinese e-commerce up a notch.
The site, ChinaTradeWorld.com, provides registered users with point-and-click access to state-authorized production centers in more than twenty industries, including textiles, agriculture and manufacturing. Users can view company/product information and place orders online.
The aim is to allow foreign businesses to import goods directly from more than 180,000 factories, farms and production facilities across mainland China.
ChinaTradeWorld.com is a joint venture between Hong Kong-based New ePOCH Information Co. Ltd. and CIEC, which owns a 51 percent stake in the company.
"This Web site is the next Silk Road," said Benjamin Fok, managing director of CIEC. "ChinaTradeWorld.com effectively opens the gates of China to the world, heightening awareness and understanding of the many business opportunities China presents today."
The portal is supported by a network of more than 600 customer service staff in more than 70 cities in China, who provide local know-how and customer support.
Fok says that procurement and shipping capabilities are further enhanced by the newly constructed Pearl River Delta port city of Nansha, a 22 km-square city constructed by the Fok family on the mouth of the Pearl River to expedite shipping and trade from the mainland.
"With its one-stop service, ChinaTradeWorld.com eliminates many of the middlemen that made trade with China so difficult," Fok said. "It is the first venture by a Chinese firm to establish a more efficient trade strategy based around the Internet and e-commerce."
In addition to facilitating trade with China, ChinaTradeWorld.com offers trade news, English translations of Chinese law, access to international lawyers, translation services and investment information.
Celene Loo, executive director of CIEC, said that with state support via MOFTEC, the site provides a direct link to China's technological and physical infrastructure.
The firm says that the MOFTEC connection guarantees that all factories are state approved, and that transactions will go smoothly.
MOFTEC administers China's foreign trade and devises strategies for China's trade policies, trade and economic development, and trade laws and regulations.