(CFP Photo)

Jiangsu provincial government held a press conference on September 27 to introduce the 17 measures recently released to accelerate development of digital trade.

The province has set a number of goals by 2025, including fostering digital trade platforms, building 30 digital trade hubs, supporting 10 enterprises to be the country's market leaders, and cultivating at least 50 firms with the annual trade volume over the threshold of $100 million. It will also pilot the establishment of digital trade statistical system.

Jiangsu will promote opening-up and international cooperation through innovative measures in line with international trade rules such as the Digital Economy Partnership Agreement (DEPA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). For key markets and industries, the province will pilot programs such as data cross-border flow management and assessment systems.

In 2021, Jiangsu's digitally deliverable trade in services stood at $27.43 billion, up 33.7% year-on-year, 11.4 percentage points higher than the national average growth. This accounted for 52.5% of the total service trade in Jiangsu, 8.6 percentage points higher than the national proportion. The main service areas include telecommunications, computer and information, intellectual property, culture and entertainment, design and R&D.