HANGZHOU, Nov. 15 -- Two international e-commerce standards were officially released during the eighth plenary meeting of the Technical Committee for Transaction Assurance in E-Commerce, being held in Hangzhou, east China's Zhejiang Province.

The two international standards, the "2023 Transaction Assurance in E-commerce -- Vocabulary" and the "2023 Transaction Assurance in E-commerce -- Principles and Framework," fall under the category of basic standards, according to the meeting held by the International Organization for Standardization. The meeting began on Tuesday and will continue until Friday.

China led the formulation of both standards, with the participation of countries such as France, the United Kingdom, Germany, Norway, Japan, Senegal, Singapore and India.

Song Mingshun, chairman of the committee, said that the release of these two international standards is a significant breakthrough in the e-commerce sector.

The standards establish globally unified basic concepts and definitions for e-commerce terms, and outline the main framework, business scope and fundamental principles of transaction assurance in e-commerce, providing technical guidelines for the future development of key international standards, Song said.

Each country operates according to its own standards, which can lead to misunderstandings and friction in cross-border e-commerce transactions due to differences in terminologies, said Zhang Xin, a researcher at the Hangzhou Institute of Standardization.

The two standards will help protect the interests of all parties involved in cross-border e-commerce transactions, Zhang said.