Transactions through ecommerce platforms have reached CNY 26.1 trillion (USD 3.8 trillion) in 2016, increasing by 19.8% from 2015, according to a Sina news report citing data from the Ministry of Commerce.
Ecommerce-related services have accumulated a value of CNY 2.45 trillion (USD 357.5 billion) in 2016, growing by 23.7% from 2015.
This growing market is sustained by the increasing number of internet users who reached 731 million or 53.2% of the country’s population. Online shoppers account for 467 million, or 63.8% of internet users. Another 441 million use mobile phones to place orders showcasing an annual growth rate of 29.8%.
The ecommerce market’s growth in China is due to the fast expansion of Alibaba’s Taobao and Tmall marketplaces and Tencent-backed JD.com platform. The report shows that clothing, electronic appliances, mobile phones, digital goods, food and drink are among the most traded goods on ecommerce platforms.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now