Last Updated on Dec 5, 2023 by Nurul Afsar
A Sina news report which cites data from the Ministry of Commerce highlights China’s as being the largest e-commerce market in the world.
Transactions through unconventional e-platforms reached 26.1 trillion yuan last year, up 19.8 percent from the previous year, with the value of e-commerce in China accounting for 39.2 percent of the global market.
According to the report, there was steady growth in all of China’s e-commerce sectors, including the value of e-commerce transactions and the number of employees serving in e-commerce sectors.
Why are their figures so high? It may be because the number of internet users reached a whopping 731 million, with online shopping consumers reaching 467 million, which accounts for 63.8 percent of all internet users.
But China is crediting its explosive growth in the e-commerce sector to the fast expansion of Alibaba’s Taobao and Tmall marketplaces, as well as JD.com, a site backed by another Chinese technology giant Tencent.
The report also highlights clothing, home furnishings, electronic appliances, mobile phones, digital goods, food and drink, and baby products as being the most traded goods among Chinese e-platforms.
Do you have an e-commerce news story you’d like to share with us? If so we’d love to hear about it. Comment below or tweet us @numinix