Zhoushan inked a deal to establish an overseas warehouse to boost its cross-border e-commerce industry at the 2nd Global Digital Trade Expo held in Hangzhou, capital of Zhejiang province, from Nov 23 to 27.

The project is expected to increase the city's cross-border e-commerce exports by an additional $100 million a year, said a local official.

Zhoushan has in recent years been making efforts to build a cross-border e-commerce comprehensive pilot zone by rolling out supporting policies, creating a cross-border e-commerce industrial park, and fostering more cross-border e-commerce market entities.

The cross-border e-commerce industrial park is currently home to 60 enterprises, with exports exceeding one billion yuan ($140.83 million) a year.

The city's Putuo district, largely due to its efforts to advance the integrated development of digital trade and marine service, was shortlisted as a provincial demonstration zone at the expo.

The district has established a complete marine service digital trade system that covers bonded fuel oil refueling, high-end ship and marine engineering equipment, and bulk commodity transactions.

The exports of Putuo's digital trade amounted to 56.9 billion yuan in 2022, a year-on-year increase of 43 percent.

Themed "Digital Trade, Global Access," the expo featured 10 forums revolving around Silk Road e-commerce, digital cultural trade, digital finance, digital economy, intellectual property international governance, and digital element governance and marketization.

A series of remarkable achievements including the China Digital Trade Development Report were also released during the event.