China to invest in E-commerce development
China’s Ministry of Foreign Trade and Economic Cooperation (MOFTEC) has set up a Department of International Electronic Commerce Administration (DIECA) charged with overall planning of the promotion of e-commerce in foreign trade, according to MOFTEC officials quoted in the China Daily.
MOFTEC has been promoting the development of e-commerce in China, by attempting to introduce a coherent and transparent legal environment for e-commerce transactions, in cooperation with other governmental agencies. The new department, DIECA, has formulated a proposed regulation on the development of international online transactions, MOFTEC officials added. -(World IT Report)
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