Qianhai Company Registration
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Qianhai plays a strategic role in promoting cross-border e-commerce in China. Currently, there are six pilot cities in China designated under the national strategy to develop inward cross-border e-commerce, among which Qianhai is the newest kid on the block, joining the scheme as recently as July 2014.
Cross-border e-commerce is a business model that allows end consumers in China to buy directly from overseas manufacturers through electronic platforms. It essentially transforms the B2B model to a B2C one, streamlining many of the regulatory procedures such as commodity inspections and quarantines. At the same time, the delivery of goods is speeded up. What attracts consumers most is that the transaction costs are significantly reduced, both in terms of the retail prices and levied taxes.
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Why is cross-border e-commerce increasingly prevalent in mainland China, and why is Qianhai the ideal place to develop this business model? The prevalence is due to the significant price difference between certain products, such as foreign infant formulas, sold domestically and overseas. As the demand for a higher quality of life by mainland consumers increases, the demand for those products that are perceived to contribute to a higher quality of life also increases. In 2013, online shopping for overseas goods via Alipay increased by 117 percent, compared with the 65-percent increase in domestic online shopping. The Top 5 product categories are: cosmetics and skin care; mom and baby; clothing; health care and electronics. Together, these constitute a huge market potential with strong growth.
The limit for each purchase is RMB500. With this kind of policy, consumers in the mainland don’t need to go to Hong Kong to buy their daily goods.
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