Alibaba And Yiwu City Govt To Establish EWTP Hub

(RTTNews) - Alibaba Group (BABA) reached a strategic collaboration with the municipal government of Yiwu, Zhejiang Province, China to launch an eWTP hub in Yiwu to digitize trade infrastructure and empower new trade flows for the city.

The collaboration will make cross-border e-commerce more accessible to small players in global trade, Alibaba said in a statement.

The eWTP hub, called the Yiwu eWTP Pilot Area, will build on the success of the eWTP hub established in October 2017 in Hangzhou, the capital of China's Zhejiang Province.

The Yiwu eWTP hub will use technology to promote innovation in trade and trade finance, establish a smart logistics hub and create greater inclusivity for businesses in Yiwu.