A project combining an e-commerce platform and an industrial park signs up to settle in Nantong. [Photo/ntfabu.com]

The first project combining an e-commerce platform and an industrial park in Nantong city in East China's Jiangsu province signed up to settle in the city on May 24.

The project will focus on cross-border e-commerce, general trade, domestic e-commerce, the international supply chain, talent cultivation and enterprise incubation.

It will be jointly developed by the administrative committee of the Gangzha Economic Development Zone – under jurisdiction of the Chongchuan district of Nantong, the human resources and social security bureau of Chongchuan district and Nantong Jushangtong Cross-border E-commerce Co Ltd – to help boost the transformation and upgrading of Nantong's cross-border e-commerce sector.

Jushangtong is an emerging e-commerce enterprise mainly engaged in cross-border e-commerce businesses in Central Asia and Russia.

By developing its supply chain resources, building overseas warehouses, logistics distribution systems and pick-up sites by itself, it has formed a complete industrial chain in the sector.

Its self-developed e-commerce platform – called the SRC Shop – has reportedly become the most popular social e-commerce platform in the Central Asia region, with over 600,000 registered users and more 5,000 orders on average per day.

The new project is expected to become a significant carrier to transform the old growth drivers with new ones in terms of foreign trade in Nantong.

Estimates are that it will generate 10 billion yuan ($1.5 billion) in import-export volume within five years, 3 billion yuan of which will be cross-border e-commerce import-export value.

In addition, it is expected to attract more than 30 enterprises to move there and cultivate over 400 e-commerce professionals in the next five years.