China: ecommerce transactions estimated to reach nearly USD 2 trillion in 2014

Tuesday 13 January 2015 11:40 CET | News

The total value of the Chinese ecommerce transaction was estimated to reach USD 1.95 trillion (CNY 12 trillion) in 2014, with a 20% y-o-y increase, recent findings reveal.

It was estimated that national industrial added-value would increase by about 8.3% and the information consumption value would increase to USD 455.12 billion (CNY 2.8 trillion), with a 25% y-o-y increase in 2014, according to a report issued by the Ministry of Industry and Information Technology (MIIT).

It is said that the revenue growth rate of China telecommunication industry, software and information technology and internet were 4%, 20% and 50% respectively, in 2014. China’s fiber internet network was estimated to reach 70 million households in 2014 whereas 4G subscribers are expected to exceed 90 million, and IPTV users to surpass 33.4 million.

China’s ecommerce industry is predicted to account for 18% of the total retail sales in 2018, up from 8% in 2013, according to estimates issued by the research company Morgan Stanley, reports.

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Keywords: China, ecommerce, transactions , prediction, CNY, 2014, turnover, rise, increase
Categories: Payments & Commerce
Countries: World
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