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Hainan sets up digital cross-border trade federation to boost turnover

The federation aims to effectively distribute digital resources and build robust industry chains, according to the Hainan Daily newspaper

HAIKOU /China/, May 20. /TASS/. China's leading mobile operator China Mobile, together with 16 other Chinese companies and organizations to increase international trade, created the Federation for the Development of Digital Cross-border Trade in Hainan. This was reported by the Hainan Daily newspaper.

According to the newspaper, the establishment of the federation was announced at an assembly of environmental partners of the Mobile Digital Services and Trade Demonstration Zone. The event was held this week in Haikou, the administrative center of the province.

The innovation zone was established by the Department of Commerce, the Hainan Provincial Bureau of International Economic Development, the Meilan District Administration (northeast of Haikou) and China Mobile's Hainan branch. It was launched last July, during the 2nd China International Consumer Products Expo on the island.

The federation aims to efficiently distribute digital resources and use them to create robust industry chains. Members of the organization plan to introduce smart technologies, by means of innovative methods to eliminate production problems. It is expected that all this will accelerate the formation of the Hainan Free Trade Port.

Digitalization is one of the key areas in the development of China's southernmost province. Haikou is an important regional center for boosting digital trade. In recent years, the growth rate of the industry in the city has been about 25% per year.