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E-commerce rides boom to lift revenue
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A surging demand for consumer electronics and a boom in online shopping powered a rapid growth in the revenue of e-commerce and semiconductor firms in the past three years in China, Deloitte said in a report yesterday.
The 50 fastest-growing start-ups in the Deloitte Technology Fast 50 China saw revenue soar 452 percent in the past three years on average. Internet companies, especially e-commerce firms, software vendors and semiconductor firms, accounted for the majority on the list, according to Deloitte Touche Tohmatsu.
However, the average growth rate was lower compared with last year’s average level because of the country’s macroeconomic environment.
Semiconductor firms and e-commerce websites were highlighted in this year’s list which also saw fewer new energy firms, according to William Chou, Deloitte China TMT managing partner.
The e-commerce firms in the list included online shopper Womai which focuses on selling food online and ChinaPNR, an online payment tool provider.
In the second quarter, China’s online B2C (business to consumer) trade volume hit 157 billion yuan (US$26 billion), up 82 percent year on year, according to Analysys International, a Beijing-based research firm.
The revenue of the top-five firms — new energy, software, semiconductor, e-commerce and medical — grew 11 times in the past three years, according to Deloitte.
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