On March 29, Hangzhou approved Hangzhou Digital Trade Promotion Regulation, which becomes China's first local regulations targeting digital trade, and it is reported to be implemented from June 1.

The regulation will provide the institutional support for the rapid development of Hangzhou’s digital trade, and serve as a model for the digital trade legislation of Zhejiang and even China.

The regulation defines the connotation of digital trade, encourages the format innovation in digital trade, and clarifies the positioning and responsibilities of data trading venues. And it emphasizes openness and cooperation to promote the implement of international economic and trade rules.