3rd-party platforms thrive in Pudong

Trading through third-party platforms based in Shanghai's Pudong New Area accounts for 60 percent of the total volume nationwide, a strong sign that the district boasts a booming trade in these payments, a White Paper has disclosed.

Great efforts have been made to build up Pudong for platform operators who bridge online and offline commerce, facilitate information interaction and provide value-added services, the Commission of Commerce of Pudong said in the White Paper.

Pudong houses a number of platform companies, including Bsteel.com.cn, an online marketplace for steel and related products, Shanghai Purang Financial Service Co, an information provider for trading of commercial papers, and online grocery operator Yihaodian.com.

Pudong aims to create a group of industry leaders with revenue of more than 10 billion yuan (US$1.6 billion) as well as a number of supersized platforms in the next few years, said the White Paper.

Jian Danian, deputy head of Pudong, said the government will enhance reform to rid any barrier to the development of platform firms.