Sanya to design special fund to attract cross-border e-commerce companies

Sanya will set up a special fund for cross-border e-commerce development with a total budget of 44.4 million yuan ($6.85 million) to encourage high-quality cross-border e-commerce companies to settle down, and increase the enthusiasm of local companies to participate in cross-border trade.

The fund is intended to support independent legal market entities, including cross-border e-commerce companies, platforms, third-party service providers, and industry base operations that are legally registered and tax-paying in Sanya.

The fund aims to cultivate cross-border e-commerce business entities, support the construction of cross-border e-commerce industrial bases, encourage the development of cross-border e-commerce logistics, warehousing, and live streaming, and boost cross-border e-commerce digital marketing and brand construction overseas.

A cross-border e-commerce enterprise whose annual sales of its own goods supply exceeds 50 million yuan for the first time through live streaming will be given a 0.4 percent reward of the annual sales, and a single company will be rewarded with a maximum of one million yuan per year. Live streaming personnel who are employed in a local registered company, who have more than 500,000 fans on mainstream live streaming platforms, and whose cross-border e-commerce product sales are more than 10 million, will be rewarded 0.3 percent of the annual transaction amount, and a single anchor's reward will not exceed 500,000 yuan per year.

Through attracting more cross-border e-commerce companies from home and abroad to participate in the construction of the Hainan Free Tarde Port, the city will improve the existing industrial shortcomings of employees, market players, supplying goods, industrial development environment, and accelerate the construction of Sanya's cross-border e-commerce comprehensive pilot zone.