China: notable growth in cross-border online shopping

Monday 18 August 2014 14:15 CET | News

Chinas overseas online shopping market has registered a significant growth, according to a report issued by the news agency Business Herald.

According to the same report, citing data from the China e-Business Research Center journal, the value registered by the Chinese online shoppers buying from abroad via domestic electronic payment methods jumped from USD 1.95 billion (CNY 12 billion) to more than USD 11.36 billion (CNY 70 billion) between 2010 and 2013.

Alipay, Chinas largest third-party payment platform, recorded a 117% growth in its cross-border e-payment services from 2011 to 2012, whereas the average pointed to a 64.7% growth for other ecommerce companies.

In late 2012, the central government approved 5 cities as trial points for cross-border ecommerce trading, while local governments also provided subsidies for the sectors development. In 2013, 17 third-party payment firms were granted licenses for providing online cross-border payment services.

Check out our Cross-border Ecommerce Research section here for more info on specific ecommerce facts and figures, preferred payment methods, risk and fraud, as well as ecommerce legislation and regulation in China.

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Keywords: China, growth, cross-border, online shopping, online sales, ecommerce, e-tailers, Alipay, payment methods
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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