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China holds 40 percent of total global ecommerce transactions

Wednesday 31 May 2017 11:37 CET | News

China remains the largest global ecommerce market in terms of trading value, accounting for over 40% of the total transactions.

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.


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Keywords: China, Alibaba, Tencent, ecommerce, mobile shopping, online payments
Categories: Payments & Commerce | Ecommerce
Countries: World
This article is part of category

Payments & Commerce