To boost cross-border e-commerce and promote the stable growth of foreign trade, Shandong province will implement 44 measures, including the construction of cross-border e-commerce industrial belts, cultivation of well-known brands, financial and logistics services, and improvement of trade facilitation, according to a three-year action plan released on July 11.

According to the plan, Shandong will ramp up efforts to build 20 characteristic industrial belts, nurture 100 renowned brands with core competitiveness, and incubate 1,000 emerging cross-border e-commerce companies by 2025.

The province will focus on key sectors such as modern light textiles, new energy and materials, smart home appliances and automotive equipment, carry out the "cross-border e-commerce plus industrial belt" project, attract leading enterprises, construct cross-border e-commerce parks, improve supply chains and talent training, and speed up the digital transformation of traditional industries.

To cultivate top cross-border e-commerce brands, Shandong will help enterprises utilize multiple channels like search engines, social media and cross-border livestreaming for global promotion purposes.

The province will encourage enterprises to establish their own overseas outlets and offer services such as website design, marketing, logistics and warehousing for them.

Shandong will also help enterprises to take advantage of tax exemptions for value-added tax and consumption tax on cross-border e-commerce retail exports.

The city will continue to implement value-added tax policies for cross-border e-commerce business-to-business (B2B) exports and improve the level of convenience for tax refunds for cross-border e-commerce B2B exports and cross-border e-commerce overseas warehouse models.