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Shangyu Cross-border Cloud Valley opened on March 26 in Shangyu, a district of Shaoxing, marking a new phase in the city's cross-border e-commerce industry and aiming to support foreign trade and businesses expanding into international markets.

The opening event featured multiple signing ceremonies, including agreements on corporate projects, service alliances, and university partnerships. These initiatives aim to integrate industry resources and enhance the cross-border e-commerce service ecosystem.

The valley comprises 104 office spaces spanning 11 floors with a total area of nearly 15,000 square meters. It is designed to accommodate businesses and provide a one-stop service platform covering investment attraction, customs clearance, business incubation, and talent development, meeting the needs of cross-border trade companies.

Nearly 30 platforms and businesses, including Amazon, Alibaba International, and TikTok, have set up operations in the facility, signifying the initial industrial ecosystem.

Shangyu plans to utilize its specialized industries, such as pet products, umbrellas, and outdoor leisure goods, to deepen integration between cross-border e-commerce and local industries and support businesses in transitioning from simply exporting to building globally recognized brands. The city is also developing a pet economy industrial park to create high-value-added products and drive industrial upgrades.

Shangyu is already home to over 600 cross-border e-commerce enterprises, with export revenues of 620 million yuan ($85 million) by 2025, representing a 255 percent increase from current levels.