Premier Li Keqiang said that China will further promote its eCommerce development, a move that  has been welcomed by all the eCommerce platforms in the country.

Premier Li announced the endorsement while addressing the National People’s Congress, which is held annually in Beijing to draft and debate legislative proposals. According to Li, cloud computing, online banking, mobile internet, and logistics will be promoted to strengthen the country’s ecommerce infrastructure. Emphasis has also been put on investments in the IT sector: “In addition to the 40 billion yuan ($6.38 billion) government fund already in place for investment in China’s emerging industries, more funds need to be raised for promoting business development and innovation,” Li said.

This endorsement may benefit a large number of companies: from web hosting providers to shipping companies, encompassing eCommerce platforms, eCommerce developers and eCommerce agencies, which in turn would create a better eCommerce  environment for the final consumer.

Li continued by adding that investment in technology are even more imperative at a time of overall slowing economic growth and as China tries to leave in the past its reliance on manufacture and transit to a consumption-based economy.