Yiwugou.com gains the first batch of official online business licenses in China

Yiwugou.com, the official website of Yiwu Commodity Market, the largest commodity wholesale market in the world, has announced that ten sellers on Yiwugou.com have gained the first batch of official online business licenses which will add significant integrity to the e-commerce credit system in China.

According to CCTV, Chinese leaders proposed the “Internet +” idea at two sessions press conference in 2015 and indicated that the integration of online and offline had created greater vitality, and that both online and offline shops should remain faithful to ensure quality and safeguard consumer rights. The nature of the “Internet +” idea is to upgrade traditional industries through internet technology therefore online business licenses are the best practice for the “Internet +” idea in the field of e-commerce.

In China, the business license is a merchant legal certificate that is supervised by the state administrative department. However, with the development of e-commerce, it’s harder to supervise and approve online merchants in the traditional model of the business license. In addition, the enterprise certification of third platforms like Alibaba usually can’t be recognized by the state administrative department. In January this year, the conflict between Alibaba and the State Administration for Industry and Commerce was a concentrated reflection of this problem and consequently the government, enterprises and people are more concerned about the problem of online integrity.

The online business license is specific to online business spaces as opposed to the electronization of traditional business licenses and also promotes e-commerce integrity management from enterprise certification up to national regulation. Thus, sellers on Yiwugou.com can be better supervised by national laws and regulations and undoubtedly Yiwugou.com will provide a more reliable procurement platform for buyers all over the world.

“The unique model of ‘E-commerce + Offline shops + Integrity Protection’ shows that Yiwugou.com is the steadfast practitioner of the “Internet +” idea. The online business license lays a good foundation for various internet financial services afterwards. This also will further develop the ‘Global Partnership Plan’ of Yiwugou.com to accelerate the building of a spider-web market platform covering all of China and the world with the effective integration of online and offline based on powerful industrial support,” said Wang Jianjun, CEO of Yiwugou.com.