Internet shopping generates US$297b
Print Edition
CHINA’S online shopping market generated a value of 1.85 trillion yuan (US$297 billion) to garner 7.8 percent of total retail size in the past year, a report by the Ministry of Commerce said yesterday.
E-commerce transactions rose 26.8 percent from a year earlier to more than 10 trillion yuan, while online retail jumped 41.2 percent from that of 2012, Cai Yudong, vice director of the Department of E-commerce and Informatization at the Ministry of Commerce, said at the China (Beijing) E-commerce Conference.
Cai released the figures in the “China E-commerce Development Report (2013),” which was compiled by several government institutions and research agencies, at the conference.
There were 302 million online shoppers in China last year, and e-commerce is becoming increasingly important in boosting the country’s service industry and encouraging domestic consumption, Cai said.
By 2015, more than 30 million people will be in e-commerce related vocations.
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