(ECNS) -- China has introduced its first regional e-commerce development index named after the famed small commodity production center of Yiwu in Zhejiang Province.
The 2016 World E-commerce Conference held in the city also claims the index to be the world's first to understand conditions in the sector objectively, comprehensively and timely.
Managed by the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce, the index is also a pilot program for big data in the county-level city, situated at the center of Zhejiang Province.
The index shows that Yiwu ranks first among the 25 national "Taobao Villages", which online giant Alibaba defines as a place where over 10 percent of households run online stores and e-commerce revenues exceed 10 million yuan a year. Yiwu also has the highest e-commerce trade density in the country in retail and online shopping.
The comprehensive monthly evaluation index includes figures on overall e-commerce in Yiwu and statistics on the online trade environment, trust ratings, rankings on activity and growth, and the degree of contribution to economic and social development.
The Yiwu E-commerce Development Index ended 2015 at 109.88 points, an increase of 9.88 percent from September.
According to a report at the conference, the index will help advance prosperity and healthy development of e-commerce in Yiwu, accelerate the transformation of trade and "further gather global e-commerce to bolster its negotiating position in improving e-commerce standards and rule-making."
