Some isolated steps already taken by the Chinese government toward facilitating B2B e-commerce include the passage of the “Law on Electronic Signatures,” which went into effect in April 2005 and...

Some isolated steps already taken by the Chinese government toward facilitating B2B e-commerce include the passage of the “Law on Electronic Signatures,” which went into effect in April 2005 and improved legal support for e-commerce. The law grants electronic signatures the same legal validity as handwritten signatures and seals in business deals. This is vital for conducting business online. Along with the law, a market-access system to certify online signatures began operating to facilitate the country’s growing online trade. This was in addition to another important measure taken earlier in 2001 by the Chinese government that involved the creation of the China Finance Certification Authority (CFCA).