Toolkit to help companies in cross-border e-commerce

Pudong has released a financing toolkit to facilitate Chinese firms in cross-border e-commerce.

It is one of the latest efforts to push Shanghai's development as the pilot zone for "Silk Road E-commerce," an international cooperation of digital trade under the "Belt and Road" initiative.

The "Silk Road E-commerce Integrated Finance Services Hub Toolkit User Manual," released on Wednesday, gathers services from reputable financial institutions and platforms such as Bank of China, Standard Chartered, and SINOSURE, and provides a practical guide to cross-border payment, cross-border financing credit, Customs tax and more.

"It helps Chinese firms to deal with foreign exchange settlement when doing overseas business," said Wu Kao, international business department director of ICBC'S Shanghai branch.

Last December, Pudong established the "Silk Road E-commerce Overseas Warehouse Service Alliance," which gathers related firms, overseas warehouse, academic institutes and financial institutions, to help small-to-middle-sized domestic firms carry out e-commerce in "Belt and Road" countries.

By Wednesday, it had gathered 21 members, including courier service provider uda International Express and e-commerce giant JD.com.