First cross-border e-commerce incubator opens in Hohhot

A cross-border e-commerce incubator for the cashmere industry was recently unveiled at Jinchuan Industrial Park in Hohhot, capital of Inner Mongolia autonomous region.

As the first of its kind, the incubator aims to offer guidance in the building of teams, business operations and personnel training for cashmere companies.

According to officials with the incubator, it has helped 20 companies.

With the partnership of e-commerce giant Alibaba Group, the incubator will analyze the international cashmere market through big data technology to help Chinese cashmere companies find more business opportunities.

It also plans to promote the application of a geographical indication – a designation identifying a product as coming from a specific region – for the brand "Inner Mongolia Cashmere" and push forward the establishment of a credit system for the local cashmere industry.

Cashmere, also known as "soft gold" or "diamond fiber" in Inner Mongolia, has traditionally been exported to international markets including Japan and South Korea.