Ecommerce in China
The Growing Importance of E-Commerce in China
Apr 28, 2013
The "booming" of e-commerce in China contributes to internal consumptions, helping to sustain the economy. Broadly, e-commerce means doing business over the Internet, selling goods and services delivered off-line as well as products which can be 'digitized' and delivered on-line. This form of commerce experienced a rapid growth in the last two years and it is expected to expand further in future.
The growing importance of e-commerce and the spreading of the Internet have pushed legislators, both national and international, to adopt new legal instruments to accommodate it and to foster its development. No single government or nation can completely regulate electronic commerce. Co-operation amongst States is necessary in order to harmonize the existing rules and to give that certainty and predictability that business activity needs when taking place over the "Net". Today the Internet, and in particular e-commerce, is the foundation for all business practices. It allows companies to establish a global presence, which is of paramount importance for relatively small and newly established entities who want to engage in cross-border trade. This electronic medium offers many possibilities: (i) reducing operational cost; (ii) increasing efficiency due to increased precision and speed; (iii) expanding access to lo-cal, national or international markets; (iv) allowing personalized products and services to be offered; (v) allowing specialized marketing due to the many databases available. Forward-thinking companies have opened their own websites to increase and enhance their business and efficiency.
This new way to conduct business is literally changing the material marketplace in China (and be-yond). The legal environment in which e-commerce is developing, and the instruments adopted in order to regulate it, have an important role to play in realizing its full potential.
General panorama of e-commerce regulations
Apr 28, 2013
The "booming" of e-commerce in China contributes to internal consumptions, helping to sustain the economy. Broadly, e-commerce means doing business over the Internet, selling goods and services delivered off-line as well as products which can be 'digitized' and delivered on-line. This form of commerce experienced a rapid growth in the last two years and it is expected to expand further in future.
The growing importance of e-commerce and the spreading of the Internet have pushed legislators, both national and international, to adopt new legal instruments to accommodate it and to foster its development. No single government or nation can completely regulate electronic commerce. Co-operation amongst States is necessary in order to harmonize the existing rules and to give that certainty and predictability that business activity needs when taking place over the "Net". Today the Internet, and in particular e-commerce, is the foundation for all business practices. It allows companies to establish a global presence, which is of paramount importance for relatively small and newly established entities who want to engage in cross-border trade. This electronic medium offers many possibilities: (i) reducing operational cost; (ii) increasing efficiency due to increased precision and speed; (iii) expanding access to lo-cal, national or international markets; (iv) allowing personalized products and services to be offered; (v) allowing specialized marketing due to the many databases available. Forward-thinking companies have opened their own websites to increase and enhance their business and efficiency.
This new way to conduct business is literally changing the material marketplace in China (and be-yond). The legal environment in which e-commerce is developing, and the instruments adopted in order to regulate it, have an important role to play in realizing its full potential.
General panorama of e-commerce regulations