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Online commerce set for fast-track development
By Wang Yanlin |
June 7, 2012, Thursday
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Online Edition
Online Edition
CHINA will accelerate the development of online commerce because its healthy expansion is considered vital for the country to stimulate consumption, a senior official said in Shanghai today.
"E-commerce is now a superior pattern of doing business, and may become the most popular one in the future," said Qiu Hong, assistant minister of commerce at the 2012 China International E-Shopping Fair, which opened at Shanghaimart.
"The ministry will accelerate research and development to improve the technology, application and training of professionals, while strengthening supervision in the industry to guarantee its healthy growth," Qu said.
The fair is the country's first exhibition supported by the Ministry of Commerce that featured online vendors. It is organized by the Shanghai Commission of Commerce and supported by 11 commerce commissions in provinces including Zhejiang, Jiangsu, Shaanxi and cities like Tianjin, Chongqing and Chengdu.
China's e-commerce sales increased 29.2 percent from a year earlier to 5.88 trillion yuan (US$933 billion) last year. Online retail business reached 766 billion yuan, or 4.2 percent of China's overall retail sales.
"There is huge space for e-commerce to grow as it remains a fledgling sector and still accounts for a relatively small part of total sales," said Gu Jiahe, vice chairman at the Shanghai Commission of Commerce.
In big cities like Shanghai, e-commerce was developing fast. The city reported its online retail business surged 69 percent to 58.4 billion yuan last year, outpacing the 20 percent-plus sales growth in traditional brick-and-mortar shops.
A variety of products from food, clothes and electronic devices to cookware and toys were displayed at the fair. The fair will run through Saturday.
It offered an opportunity for online vendors to become "real" and establish a brand image that is difficult to set up in the virtual world. The fair also served as a platform for e-commerce companies to gather and look for new suppliers, commission officials said.
"E-commerce is now a superior pattern of doing business, and may become the most popular one in the future," said Qiu Hong, assistant minister of commerce at the 2012 China International E-Shopping Fair, which opened at Shanghaimart.
"The ministry will accelerate research and development to improve the technology, application and training of professionals, while strengthening supervision in the industry to guarantee its healthy growth," Qu said.
The fair is the country's first exhibition supported by the Ministry of Commerce that featured online vendors. It is organized by the Shanghai Commission of Commerce and supported by 11 commerce commissions in provinces including Zhejiang, Jiangsu, Shaanxi and cities like Tianjin, Chongqing and Chengdu.
China's e-commerce sales increased 29.2 percent from a year earlier to 5.88 trillion yuan (US$933 billion) last year. Online retail business reached 766 billion yuan, or 4.2 percent of China's overall retail sales.
"There is huge space for e-commerce to grow as it remains a fledgling sector and still accounts for a relatively small part of total sales," said Gu Jiahe, vice chairman at the Shanghai Commission of Commerce.
In big cities like Shanghai, e-commerce was developing fast. The city reported its online retail business surged 69 percent to 58.4 billion yuan last year, outpacing the 20 percent-plus sales growth in traditional brick-and-mortar shops.
A variety of products from food, clothes and electronic devices to cookware and toys were displayed at the fair. The fair will run through Saturday.
It offered an opportunity for online vendors to become "real" and establish a brand image that is difficult to set up in the virtual world. The fair also served as a platform for e-commerce companies to gather and look for new suppliers, commission officials said.
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