On the afternoon of May 22nd, China Jianshi Lock Co., Ltd. and Wenzhou Cross-border E-commerce Industrial Park (in preparation) located in Lucheng District of Wenzhou signed a letter of intent with Zhejiang Chamber of Commerce of America to open the door to cross-border commerce for consumers in China and the United States via Wenzhou Cross-border E-commerce Industrial Park (in preparation). According to preliminary estimates, the Project can make a profit of about 380 million yuan for small and medium e-business enterprises in the Park.

Cross-border E-commerce generally refers to the direct sales of personal goods to foreign consumers byair parcel, mail, and courier services. Postal service or courier companies are responsible for customs clearance of such goods and most seller companies are not registered in the customs registration system.In March this year, Wenzhou became one of the second batch of national e-commerce model cities in China. Enterprises or business operators are encouraged to establish cross-border e-commerce platforms by taking advantage of Wenzhou brands and overseas Wenzhouese businessmen. As one of the post offices with stationed customs offices in Zhejiang Province, Wenzhou Post Office can directly handle parcel export businesses.

By enjoying the development momentum of the “No. 1 emerging industry” of network economy, China Jianshi Lock Co., Ltd., once honored as one of “Ten Lock Kings in China”, is now building the Wenzhou Cross-border E-commerce Industrial Park. The Park is expected to come into service in this November and become the “springboard” for exporting Wenzhou commodities. It is estimated that the annual business volume of the local export companies in the Park can reach 1.525 billion yuan and the number of daily transactions can amount to approximately 12,500.

According to Wang Lingyun, the Chairman of Jianshi Lock Co., Ltd. the signing of the letter of intent with Zhejiang Chamber of Commerce of America for B2C cooperation is just a beginning. The company is going to explore business cooperation opportunities with Alibaba (electronic business platform and cross-border payment service provider), China Post EMS ( cross-border logistics service provider) , China Telecom, and China Mobile (network operators ) , and etc. while communicating with commerce, customs, state taxation and other governmental agencies for policy-related issues. So far, the Park has already reached the preliminary agreement with Wenzhou branch of China Telecom to jointly build the E-business smart industrial park to provide E-commerce enterprises with one-stop informationization supporting services.

Cao Shenghua, the president of Zhejiang Chamber of Commerce of America said that they would be working with related businesses to bring more American branded goods to China. For consumers in Wenzhou, they can buy more lower-priced, high quality American goods as there are no more middlemen or brokers in the process.