March 19, 2018

FTZ unveils its first alcohol cross-border e-commerce platform

Shanghai Free Trade Zone has unveiled its first alcohol cross-border trading e-commerce platform recently. Managed by Shanghai Wine Exchange in the zone, the platform will integrate trading, stocking, alcohol trading information and alcohol cultural exchange, according to a press conference held in the zone last week.

The Shanghai Wine Exchange has equipped the platform with global standard wine warehouse, located in Yangshan Bonded Port area, for buyers from all around the world, said Su Wanfeng, chairwoman of the exchange.

Li Zhaojie, deputy director of the zone’s administration, said the administration has always attached great importance to cross-border e-commerce industry, for it’s the internet era’s fastest trading method. The new platform marks the zone’s exploration into cross-border e-commerce.

“Shanghai Shopping,” part of the city’s brand-building campaign, aims to build professional trading platforms, and the city will set up three consumer goods trading platforms with a trade volume of a hundred billion yuan each and seven trading platforms at the 10 billion yuan (US$1.58 billion) scale. And the alcohol trading platform is one important part for “Shanghai Shopping” to reach a 10 billion yuan transaction volume, added Li.

The cross-border alcohol platform will be supported by preferential policies, including single alcohol transaction limit set at 2,000 yuan, individual buyer’s annual transaction limit at 20,000 yuan and zero tariff on the alcohol within the transaction limit through the platform. The import value-added tax and consumption tax will be levied according to 70 percent of the statutory tax amount.

Other than the preferential policies, the platform will gradually enrich its alcohol varieties at a lower price. Also, consumers can place their order at the platform and get their alcohol within three days if it’s in Shanghai.