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Ministry drafts law to ensure e-commerce growth
By Wang Yanlin |
November 30, 2012, Friday
|
Online Edition
Online Edition
CHINA is drafting a law to regulate the e-commerce market which is growing rapidly in the country but has triggered many problems, a senior commerce official said in Shanghai this morning.
"China's revenue from online shopping may account for more than 6 percent of retail sales this year, and it has great potential to grow bigger," Li Jinqi, director of the Department of Electronic Commerce and Information under the Ministry of Commerce, said at the Hongqiao Trade Forum.
Online shopping grabbed 4.32 percent of China's total retail sales last year, up dramatically from merely 1 percent in 2008.
However, the explosion of online shopping has caused many new problems, such as poor product quality, late delivery, and malicious competition between e-retailers.
Li said China is drafting a law to prevent such problems from hindering a healthy development of the industry.
Gu Jiahe, vice chairman of the Shanghai Commission of Commerce, suggested the law should not become a hindrance to innovation in the sector.
"Shanghai's online shopping market grows much faster than the national average, and we have a stronger business-to-business (B2B) platform than many other cities," Gu said.
According to the commission, Shanghai's revenue from online shopping rose up to 80 percent from a year earlier in the first half, or 11 percent of the city's total retail sales.
Shanghai aims to boost online shopping to 15 percent of total retail sales by 2015, and has allocated 100 million yuan (US$16 million) a year in special fund to support the growth of e-commerce.
"China's revenue from online shopping may account for more than 6 percent of retail sales this year, and it has great potential to grow bigger," Li Jinqi, director of the Department of Electronic Commerce and Information under the Ministry of Commerce, said at the Hongqiao Trade Forum.
Online shopping grabbed 4.32 percent of China's total retail sales last year, up dramatically from merely 1 percent in 2008.
However, the explosion of online shopping has caused many new problems, such as poor product quality, late delivery, and malicious competition between e-retailers.
Li said China is drafting a law to prevent such problems from hindering a healthy development of the industry.
Gu Jiahe, vice chairman of the Shanghai Commission of Commerce, suggested the law should not become a hindrance to innovation in the sector.
"Shanghai's online shopping market grows much faster than the national average, and we have a stronger business-to-business (B2B) platform than many other cities," Gu said.
According to the commission, Shanghai's revenue from online shopping rose up to 80 percent from a year earlier in the first half, or 11 percent of the city's total retail sales.
Shanghai aims to boost online shopping to 15 percent of total retail sales by 2015, and has allocated 100 million yuan (US$16 million) a year in special fund to support the growth of e-commerce.
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