Chinese online retail sales soar

Monday, 09 June 2014

China’s online retail market grew 26.8 percent last year with transactions exceeding CNY10trn, according to a new report.

The country already has the world’s biggest e-retailing market, with online retail sales jumping 41.2 percent last year to a value of more than CNY1.85trn. That represents around 7.8 percent of China’s total retail sales of social consumer goods, according to the report released at the China-Beijing E-commerce Conference on Thursday.

Competition in the Chinese e-commerce market has become increasingly fierce with the increase in industrial concentration, the report also found.

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