Report: New modes of foreign trade to boost Pearl River area innovation

Rapid development in new modes of foreign trade will help upgrade traditional manufacturing and boost reform and innovation efforts in the traditional trade sector in the Pearl River Delta region, according to industrial insiders.

Citing the increased number of cross-border e-commerce transactions in Guangzhou, the capital of Guangdong province, Chen Wanling, director of the international economy and trade research center of Guangdong University of Foreign Studies, said the new foreign trade modes would also help boost exports of local products.

The new foreign trade modes include improving foreign trade services, cross-border e-commerce, financial leasing and bonded imports.