The Hangzhou Municipal Market Supervision Bureau inked an agreement with the Yuhang government to jointly build the secretariat of ISO/TC 321, the transaction assurance in E-commerce of International Organization for Standardization (ISO), on June 19.

ISO/TC 321 is the technical committee of the ISO and is responsible for e-commerce transaction assurance and other standardization related processes in e-commerce. It currently has 12 participating members and 16 observing members.

Located in Zhejiang Hangzhou Future-Sci-Tech City, the secretariat marks a new chapter in the development of e-commerce in Hangzhou and the country as a whole.

The international standards are related to the right of speech and industrial development, said an official from the Hangzhou Municipal Market Supervision Bureau, adding that the secretariat will organize and coordinate the development and revision standards for the e-commerce industry.

Known as an e-commerce hub and home to the country's first cross-border e-commerce comprehensive pilot zone, Hangzhou's e-commerce industry maintained an added value growth rate of more than 30 percent for six consecutive years.

ISO is a non-governmental international organization that develops and publishes International Standards, and is the largest such organization in the world.