Legislators Proposal Law on E-Commerce

Believing that China has the largest potential to develop e-commerce, a group of deputies have raised a proposal on the issue to the National People's Congress, the top legislature, which is convening its annual session here from March 5-15.

The bill is the brainchild of 30 NPC deputies led by Zhang Zhongli, a vice chairman of Shanghai Federation of Social Scientists, who suggest that a law on e-commerce be enacted as early as possible so as to create a sound environment for the development of the sector under the rule of law.

China is a new-comer to e-commerce which has been booming around the world along with a fast development of electronic networking technology. The number of Chinese surfers is expanding at an explosive speed and reached 8.9 million by the end of last year, creating an increasingly larger market for e-commerce.

According to official figures, China now has over 600 e-shops which are being joined by two more competitors a day on average.

For Lu Guanqiu, chairman of the board of directors of the Zhejiang Universal Joint Group, e-commerce is of great importance for his company whose products are mostly exported to the United States and European nations where on-line sale has been popular.

Dong Weiping, an NPC deputy and general manager of the Hangzhou Baida Group Co., Ltd., said her company is to focus on developing e-commerce. The group, which is located in Hangzhou, the capital of eastern Zhejiang Province, is one of the earliest in the country to adopt a modern corporate system and is one of the Top 100 listed companies in China. "E-trading is quick, accurate and helpful to improve the all-round quality of enterprises," she said.

Dong complained that the country is still slow in developing an electronic banking system and lacks relevant laws. China's e-commerce would develop faster if these problems are resolved, she noted.

According to government officials in charge of the matter, a large-scale government-backed networking project is under way and relevant government departments are working on a general framework for the development of e-commerce.

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