Traders embrace new concept in selling

Companies large and small, State-owned and private, are embracing a new way of doing e-commerce in China that they hope will revive flagging profits.

As a result of central government dispensations to Ningbo in Zhejiang province, the city has opened a free trade zone and an Internet site that allows companies to import goods at a relatively low tax rate and sell them online.

One of the first to jump in was Ningbo Fubang Holding Group Co Ltd, a trader and manufacturer which is also involved in other areas.