Hangzhou to build ‘online Silk Road’ as example for 'Belt and Road' development

The unveiling ceremony for the UCLG-ASPAC Committee on the Belt and Road Local Cooperation

The city of Hangzhou in Zhejiang province hopes to build itself into a major strategic hub along the online Silk Road Economic Belt. The city will accomplish this objective by giving full play to its advantages in cross-border electronic commerce, Xu Liyi, Hangzhou's mayor, stated at the June 15 unveiling ceremony of the UCLG-ASPAC Committee on the Belt and Road Local Cooperation, China News reported.

The committee was established by the Chinese People’s Association for Friendship with Foreign Countries and the Hangzhou Municipal Government. Its purpose is to enhance the sharing of experiences, prosperity, communication and mutual trust between governments.

Its arrival in Hangzhou is monumental for both historical and economic reasons. Hangzhou is now one of the most economically dynamic cities in China. The city in eastern China, which hosts the headquarters of e-commerce giant Alibaba, had an aggregate economic output value of 1.1 trillion RMB in 2016. In recent years, the city created the online Silk Road and modeled itself as a good example for "Belt and Road" development through Internet plus technology.

Former German President Christian Wilhelm Walter Wulff noted that the committee will infuse new life into the Silk Road and provide a new platform for cooperation between Asia and Europe. The G20 summit is expected to further promote economic development and achieve win-win outcomes by combining the potential of China and Europe, the former president said.